Nigeria’s banking stocks were on demand in remote trading at the local Bourse on Wednesday August 19, which helped the market to sustain record gain at the close of trading session.
Cumulatively, stocks gained N18billion as investors continued their positioning in the banking counters ahead of interim dividend payments which often come from the tier-1 lenders.
For instance, the Nigerian Stock Exchange (NSE) benchmark performance indicator –the All Share Index (ASI) – closed higher by 0.14 percent as investors bought stocks like GTBank, Zenith Bank and UBA.
The NSEASI increased to 25,171.32 points while the value of listed stocks on the Bourse rose to N13.130billion, as against preceding trading day low of 25,136.49 points and N13.112trillion respectively.
The market’s negative return year-to date (ytd) decreased to -6.22percent.
GTBank stock price increased most from N24.9 to N25.2, adding 30kobo or 1.20percent.
International Breweries Plc increased from N2.8 to N3, adding 20kobo or 7.14percent. Studio Press increased from N1.8 to N1.98, up by 18kobo or 10percent.
Zenith Bank advanced from N16.75 to N16.9, up by 15kobo or 0.90percent; while UBA rallied from N6.65 to N6.7, adding 5kobo or 0.75percent.
Zenith Bank, Access Bank, Transcorp, UBA and FBN Holdings were actively traded stocks. In 3,108 deals, equity dealers exchanged 180,010,447 units valued at N1.536billion.
