NGX: Trading activities begin on positive sentiment with banking sector gains

A total of seven banking sector stocks – FBN HOLDINGS PLC, and ZENITH BANK PLC, FCMB GROUP PLC, FIDELITY BANK PLC, ACCESS BANK PLC, ECOBANK TRANSNATIONAL INCORPORATED AND GUARANTY TRUST HOLDING COMPANY PLC lifted the activities on Monday after ending up among the top 10 gainers.

The gains were further strengthened by trading in the shares of Oando PLC.

Consequently, the All-Share Index grew 60.86 basis points or 0.14 percentage points to close the day at 43,260.13 basis points from Friday’s close of 43,199.27 basis points.

Similarly, the Market Capitalization advanced by 32 billion Naira or 0.14 percentage points to end Monday’s trades at 22,576 trillion Naira from the 22,544 trillion Naira seen on Friday last week.

At the close of the day, investors traded 2.4 billion units of shares valued at 16.467 billion Naira in 4,811 deals with OANDO PLC being the most traded stock by volume and value at 1.973 billion units of shares and 11.834 billion Naira, respectively.

The day’s positive sentiment also reflects on the market breadth as 18 stocks gained relative to 16 losers.

HONEYWELL FLOUR MILL PLC led the gainers with an upward move from N3.39k per share to N3.72k per share, gaining 0.33k or 9.73 percent.

Next is NEM INSURANCE PLC, gaining 0.15k or 7.89 percent to N2.05k per share from N1.90k per share.

Followed by FBN HOLDINGS PLC with a 0.75k or 6.49 percent gain from N11.55k per share to N12.30k per share.

Conversely, THE INITIATES PLC led the losers falling from 0.41k per share to 0.37k per share by 0.04k or 9.76 percent, UPDC PLC was next with a fall from N1.54k per share to N1.39k per share by 0.15k or 9.74 percent and FTN COCOA PROCESSORS PLC followed with a decline from 0.44k per share to 0.40k per share by 0.04k or 9.09 percent.

Sectoral performance was mixed as the Oil & Gas index gained 1.3%, Insurance index upped 0.9%, and Banking index gained 0.8%, while the Industrial Goods index fell by 0.1% even as the Consumer Goods index closed flat.

Bilkisu Pai