Tier-1 banks weigh down broad market to record loss of N97.29 billion

Majority of the tier-1 banks recorded decline at the end of today’s trading session as UBA, GTCO, ACCESS and ZENITH Banks depreciated in share prices by 3.41%, 1.07%, 1.45% and 3.11%, respectively.

The depreciation in these companies, weighed down the overall performance of the stock market resulting in an overall decline.

The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 38 basis points.

The NGX ASI closed at 46,930.66 points, to reflect a decline of 0.38% from the previous trading day and a Year-to-Date (YTD) return of 9.87%. Meanwhile, the market capitalization increased by N97.29 billion.

At the close of market on Wednesday 2nd February 2022, the stock exchange market value currently stands at N25.29 trillion from N25.39 trillion in the previous trading day.

The market breadth closed positive as IKEJAHOTEL led 21 gainers, and 33 Losers topped by ABCTRANS at the end of today’s session.

The stock market has advanced 4,214.22 base points since the start of the year.

NGX ASI Top gainers

IKEJAHOTEL up +10.00% to close at N1.43
CONOIL up +9.96% to close at N26.50
ACADEMY up +9.71% to close at N1.13
RTBRISCOE up +8.33% to close at N0.26
LINKASS up +6.52% to close at N0.49

NGX ASI Top losers

ABCTRANS down – 8.33% to close at N0.33
COURTVILLE down – 6.90% to close at N0.54
CAVERTON down – 6.17% to close at N1.52
MAYBAKER down – 5.95% to close at N4.27
FTNCOCOA down – 5.26% to close at N0.36

NGX ASI Top Traded by Volume

FIDELITY – 47,738,364 units
TRANSCORP – 35,585,302 units
COURTVILLE – 32,456,416 units
ZENITH – 30,054,928 units
GTCO – 24,625,744 units

NGX ASI Top Traded by Value

SEPLAT – N964,667,306.40
NB – N922,113,098.35
MTNN – N864,071,014.30
ZENITH – N799,515,432.65
GTCO– N680,805,527.85

Market sentiments trend towards the bears with the market differential being in favour of the decliners as 21 gainers were surpassed by losers.


The post Tier-1 banks weigh down broad market to record loss of N97.29 billion appeared first on Nairametrics.

Generated by Feedzy