Stock Market: GTBank, Zenith Bank On Losers List As MTN Nigeria Gains

The Nigerian stock market deals dropped from 3,833 deals of yesterday to 3,044 deals today, while the volume declined to 131.6 million units today, dropping from 192.0 million units it recorded on Thursday, thereby, recording a drop in the value of trades, which closed at N899.4 million on Friday, July 10, 2020. The Nigerian bourse had closed yesterday with a value of N2.4 billion. But the All Share Index also rose from yesterday's 24,276.56 index points to 24,306.36.

Top Five Gainers

MTN Nigeria led the top gainers' chart after its stock price gained N1.1 kobo to close trading at N116.1 kobo per share after opening today's trading with N115 per share, this is according to NSE market data seen by AllNews. Vitafoam was second on the table, as its stock price gained N0.26 kobo to close the market with N5.33 kobo per share, having started trading today with N5.07 kobo per share.

International Brewery was the third top gainer as its stock price closed the market with N0.25 kobo gain to move from the opening price of N3.6 per share to N3.85 kobo per share. Glaxo Smith came next, closing the market with a gain of N0.2 kobo to end trading with N4.8 kobo per share from the open share price of N4.6 kobo per share. PZ Cussons was last on the top five gainers table after its share price rose from NN4.35 kobo per share to close trading at N4.5 kobo per share; representing a change of 3.45%.

Top Five Losers

The top on the losers list was GTBank, which had begun trading earlier today at N22.75 kobo per share, only to drop in price by -1.32% to close at N22.45 kobo per share at the end of trading today. UBA was second on the chart losing -2.34% in share price to close at N6.25 kobo per share after opening trading at N6.4 kobo per share. First Bank closed the stock market at N5.2 kobo per share after shielding off -2.34% to drop from the opening price of N5.25 kobo per share.

Associated Bus Company Plc also recorded a drop in its share price as it declined by -8.93% to close trading at N0.51 kobo per share, below the N0.56 kobo per share it opened with. Zenith Bank completed the top five losers after it closed trading with N16.7 kobo per share, declining by -0.30% from the N16.75 kobo per share it opened trading with.

Top Five Trades

Nigerian banks showed up to the market as they dominated the top five trade list. AllNews learnt that the top trades in the stock market for today were Sterling Bank, which maintained its spot from yesterday, trading volume of over 17.6 million units worth N22.6 million. Zenith Bank was the second most traded stock today with over 13.2 million units worth N220.4 million. UBA was next on the list, trading over 7.4 million units worth N47 million.

Transcorp was the fourth on the most traded stock list, closing the market with over 7.4 million units traded at cost of over N4.6 million, while Fidelity Bank completed the list with over 6.2 million trade volumes said to be worth N11.1 million.