Investors’ Preference For Bank Stocks Grows

At the end of transactions on the floor of the Nigerian Stock Exchange (NSE, Wednesday, investors patronise the Banking sub-sector more than other sectors as the sector’s 176,005,278 shares, worth N623.1 million exchanged hands in 1,654 deals.

The sub-sector’s performance was largely driven by the activities of Diamond Bank, First Bank and UBA which traded a total of 10,849,666, 15,516,585 and 112,104,345 shares respectively valued at N27, N163.7 and N191.4 millions, respectively, which investors exchanged in 46, 460 and 165 deals, respectively.

Meanwhile, All-Share Index closed lower at 20,329.62 points, as against 20.669 points traded by investors on Tuesday.

Market capitalisation also closed lower at N6.4 trillion, compared to N6.5 trillion traded on Tuesday.

Investors traded a total of 222,552,486 shares, worth N1.4 billion which was traded in 3,330 deals.

Newgold made N105 gain per share to lead the gainers table, while UACN, Cadbury and Access Bank followed after gaining 56,26 and 24 kobo respectively.

Dangote Cement, WAPCO, PZ and Unilever lost N5.80, N2.27, N1.40 and N1.39, respectively.