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Nigerian Stock Exchange: Banking stocks lead equities rally

At the end of week’s trading today, 40 companies appreciated in price compared to 32 companies that recorded price depreciation, while the price of 100 companies remained unchanged.

Banking hall

Banking stocks recorded the highest price increase as a total of seven banks emerged in the top 10 gainers chart. Skye Bank Plc led the gainers table during the week, rising by 53.57 percent to close at N1.29 from N0.84. Unity Bank Plc followed with 48.78 percent increase to close at N1.22 from N0.82. Wema Bank closed as the third on the top gainers chart, appreciating by 48.10 percent to close at N1.17 from N0.79, while Diamond Bank Plc and Caverton Offshore Group chalked up by 40.55 percent and 38.75 percent to close at 3.57 and N2.22 from N2.54 and N1.60 per share respectively.

Others on the top gainers chart include FCMB Group Plc, which rose by 37.40 percent to close at N3.49 from N2.54 per share. Jaiz Bank Plc notched up by 36.05 percent to close at N1.17 from N0.86 per share. Cement Company of Northern Nigeria, CCNN, rose by 31.98 percent to close at N17.50 from N13.26. Fidelity Bank Plc increased by 21.88 percent to close at N3.90 from N3.20 per share, while FBN Holdings Plc appreciated by 20.14 percent to close at N13.90 from N11.57 per share.

Conversely, NASCON Allied Industries Plc topped the losers’ chart, dropping by 13.64 percent to close at N19.00 from N22.00, followed by Leventis Nigeria Plc which fell by 12 percent to close at N0.66 from N0.75 per share. Vitafoam Nigeria Plc dropped 11.50 percent to close at N3.00 from N3.90.

Linkage Assurance Plc was down 11.11 percent to close at N0.80 from N0.90, while Honeywell Flour Mill Plc went down by 10.23 percent to close at N3.16 from N3.52.

Others are Cadbury Nigeria Plc which nosedived by 10.09 percent to close at N15.06 from N16.75. UAC of Nigeria Plc fell by 9.75 percent to close at N17.49 from N19.38; Livestock Feeds Plc dropped by 8.77 percent to close at N1.04 from N1.14; Lafarge Africa depreciated by 8.63 percent to close at N51.99 from N56.90, while Eterna Plc went down by 8.84 percent to close at N6.04 from N6.60 per share.

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