Investors Stake N3.99bn On 387 Million Banking Stocks

The banking sub-sector on Friday maintained its led over other sectors at the Nigerian Stock Exchange as investors staked N3.99 billion on 387.37 million shares in 3,435 deals.

Reports say that activity in the sub-sector was largely driven by UBA shares, which transacted 154.03 million shares worth N1.79 billion in 245 deals.

The insurance sub-sector followed, trading 33.31 million shares valued at N36.01 million in 381 deals.

Investors in the foreign listings sub-sector staked N185.19 million on Ecobank Transnational Inc’s 10.74 million shares in 35 deals.

However, our source reports that at the end of trading on the floor of NSE 40 equity prices depreciated in value as against 30 whose share price value increased.

Oando led on the price losers’ table, dropping N1.00 to close at N78.00 per share.

CCNN’s shares dipped by 92k to close at N18.68 per share while UAC-PROP went down by 90k to close at N20.90 per share.

Reports further say that the low transaction also affected the market indicators which dropped by 0.19 per cent.

The market capitalisation lost N12 billion to close at N6.291 trillion when compared with the N6.303 trillion recorded the previous day.

All share Index fell by 51.51 points to close at 25,861.93 from the 25,913.44 the index closed on June 17.

A total of 506.16 million shares valued at N5.42 billion were exchanged in 6,330 deals when compared with a total of 397.84 million shares worth N3.67 billion traded in 7,077 deals on Thursday.