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The NSE Banking Index trended bearish at the end of the trading session today; 5 gains were posted opposing 3 losses and 2 stalemates. The Index finished in the red with a loss of -0.04% pushing the Index point down to 357.76 from 357.89
UBA topped the gainers with a +2.07% increase. Technical analysis showed that UBA share price saw a noticeable upward trend from the start of the trading session pushing the price from its previous day’s close of N7.25 to N7.40.
Wema bank also posted gains of +1.75% pushing the price from the previous day’s close of N0.57 to N0.59 at today’s close of market. Wema Bank technical analysis shows a slightly correlated trend with that of UBA for today’s trading session.
EcoBank saw a +1.01% gain at the end of the trading session today. Price was moved from its previous gains of N4.95 to N5.00 showing a N0.05 increase that was sufficient enough to earn EcoBank 4th place on the gainers’ side at the end of the trading session today.
Other News
Access Bank escaped the bear’s claws with a +0.67% profit at the end of the trading session, technical analysis shows massive consolidation today before price moved from N7.50 to N7.55.
GTBank was also saved after posting a profit of 0.16% pushing the price to N31.30 from its previous N31.25.
Fidelity Bank held top spots on the losing side of today’s trading session with a noticeable decline from -1.77% pushing the price downwards from N2.26 to N2.22.
Jaiz Bank saw a noticeable bearish turn of -1.59% holding the price at N0.62 from N0.63.
Zenith Bank was next to feel the claws of the bear as it took a hit of -1.35% pushing price downwards from N23.00 to N22.00. Union Bank and Sterling Bank both saw a stalemate at the end of the trading session today to hold at N5.00 and N1.60 respectively.
Outlook
- Market sentiments indicate that tomorrow might see a bullish recovery with 6 gainers being opposed to 3 losers and 3 stalemates.
- Nairametrics advises cautious participation in the market amid growing uncertainties.
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Kindly cross-check the figures quoted for Zenith Bank, I think there’s a mistake somewhere.
Please check your post very well and set the record straight. The price of Zenith Bank was not 2.3 naira rather 23naira. This is a misleading report from a PhD holder in economics like you. You better send a new report and apologise to the public or get sued for causing panic in the market against Zenith Bank stocks.
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