Investors Patronise Banking Shares

Investors at the Nigerian Stock Exchange (NSE) Wednesday petronised the Banking sub-sector shares more than other sectors.

The sector’s transaction closed at 128.721,958 shares, valued at N647 million in 1,694 deals.

Banking sector performance was largely driven by the activities of Fidality Bank, First Bank and United Bank of Africa, which traded 34.274.114; 20.258.530 and 34,716,304 shares, respectively, worth N52.8; N210.4 and N69 millions, respectively which exchanged hands in 90,432 and 195 deals, respectively.

Food/Beverages and Tobacco sub-sector’s 8,800,071 shares, valued at N166.8 million, exchanged hands in 305 deals.

Insurance sub-sector followed with 8,139,690 shares, worth N7.4 million, traded in 82 deals.

Meanwhile, All-Share Index closed at 20,790.87 points as  against 20,731.72 points traded on Tuesday.

Market capitalisation closed at N6.6 trillion, compared to N6.5 trillion traded on Tuesday.

Investors traded a total of 190,960,850 shares, worth N1.5 billion in 3,052 deals, as against 291,451, 780 shares, valued at N858.6 million which exchanged hands in 3,096 deals.