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Equities Market Remains Bearish On Profit Taking In Banking Stocks - Business - Nairaland

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Equities Market Remains Bearish On Profit Taking In Banking Stocks by Nkemakonam62: 3:13am On Jun 28, 2018
Trading at the stock market remained bearish wednesday as profit taking in banking stocks made the Nigerian Stock Exchange (NSE) All-Share Index (ASI) to close 0.06 per cent lower at 37,963.93. Similarly, market capitalisation shed N9.7 billion to close at N13.75 trillion.

Profit taking on counters in the banking sector such as Zenith Bank Plc, GTBank, Access Bank Plc, Diamond Bank Plc and Fidelity Bank Plc led to the negative performance of the market. A total of 35 stocks depreciated while only 12 appreciated.

However, Japaul Oil & Maritime Plc led the price losers with 7.3 per cent, trailed by Eterna Plc with a decline of 5.0 per cent. First Aluminium Plc and Prestige Assurance Plc went down by 5.0 per cent apiece.


Cement Company of Northern Nigeria Plc, May & Baker Nigeria Plc shed 4.8 per cent and 4.4 per cent, while Equity Assurance Plc depreciated by 4.3 per cent. Regency Alliance Insurance Plc closed 4.0 per cent lower.

On the positive side, C & I Leasing Plc led the price gainers with 4.6 per cent, trailed by Unity Bank Plc with 4.4 per cent. Transcorp Plc and Union Bank of Nigeria Plc chalked up 4.2 per cent.

African Prudential Plc added 3.9 per cent, just as Total Nigeria Plc and Champion Breweries Plc went up by 3.7 per cent and 3.1 per cent in that order.

Meanwhile, the activity level improved as volume and value traded increased 43.9 per cent and 0.4 per cent to 372.2 million shares and N3.2 billion respectively. The most traded stocks by volume were Sterling Bank Plc (172.6 million shares), Zenith Bank Plc (31.5 million shares ) and Transcorp Plc (22.9 million shares) while Zenith Bank (N792.7 million), Presco Plc (N404.4 million) and Guinness Nigeria Plc (N277.9 million) were the top traded stocks by value.

In sectoral terms, three of five indices trended southwards. The NSE Insurance Index led the decliners with 0.8 per cent, trailed by the NSE Banking Index with 0.6 per cent. The NSE Consumer Goods Index closed in the red, shedding 0.2 per cent.

On other hand, the NSE Industrial Goods Index and NSE Oil & Gas Index appreciated 0.9 per cent and 0.3 per cent respectively following gains in Lafarge Africa (+2.4 per cent) and Total Nigeria (+3.7 per cent) .

http://www.akelicious.net/2018/06/equities-market-remains-bearish-on.html

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by damlawrence101: 7:46am On Jun 28, 2018
R
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by tukurmubarak(m): 7:47am On Jun 28, 2018
FTC...what a loss
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Philinho(m): 7:49am On Jun 28, 2018
It is well with NIGERIA
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by YhungPablo(m): 7:54am On Jun 28, 2018
H
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by moredolu(m): 7:55am On Jun 28, 2018
Am sure this will be the best time to invest in the stock market.

2 Likes

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Chiefkk200: 8:01am On Jun 28, 2018
Okay oh

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Donald3d(m): 8:01am On Jun 28, 2018
Wow !, I am just saying wow, I don't even understand anything.
What I understand is programming , if you need a website or a mobile app built , responsive, professional and affordable, kindly contact me
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Nobody: 8:02am On Jun 28, 2018
Most Nigerian youth are uninformed. See comments above. If it is politics and irrelevant posts now, you will read their sentimental views.

1 Like 2 Shares

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Nobody: 8:02am On Jun 28, 2018
NSE is no diff from ponzi
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by odomanis: 8:06am On Jun 28, 2018
yeyerolling:
NSE is no diff from ponzi


What you dont know,learn ! What you dont understand,ask questions !

3 Likes

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by obaataaokpaewu: 8:08am On Jun 28, 2018
This kind of topic plus the ones from Islam section can go days on the front page with little comments from nairalanders

1 Like

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by jeff1607(m): 8:12am On Jun 28, 2018
English pls
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Joshua070(m): 8:14am On Jun 28, 2018
grin[size=8pt][/size] chio
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by Nobody: 8:14am On Jun 28, 2018
odomanis:



What you dont know,learn ! What you dont understand,ask questions !
i was an auditor oga. Many of these coy r shady
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by achmed1(m): 8:35am On Jun 28, 2018
Buy the red sell the green.

1 Like

Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by DollarAngel(m): 1:20pm On Jun 28, 2018
achmed1:
Buy the red sell the green.

Wrong you Sell Red buy Green
Re: Equities Market Remains Bearish On Profit Taking In Banking Stocks by achmed1(m): 1:56pm On Jun 28, 2018
DollarAngel:


Wrong you Sell Red buy Green

Lol you buy when people are fearful and sell when people are greedy.

You don't buy at all time highs rather buy at all time low and sell at all time high. That's how you profit.

Buy when there is blood on the street.

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