The NSE Banking Index recovers from its previous day loss 

At the end of the trading session today, the NSE Banking Index posted a profit of +2.19% opposing the significant loss posted at the last trading session of (-3.12%) putting the index point at 350.36. The market saw 1 gain, 1 stalemate, and 8 losses. 

Jaiz bank cancelled some of its previous day profit of 10% and posted a loss of -6.06% at the end of today’s trading session pushing the price downwards to N0.65 from its opening price of N0.66 in today’s trading session. 

Fidelity Bank continued its bearish momentum by posting a loss of -1.60% adding to its previous day loss of -3.47% to put its price at N2.49.

Zenith Bank led the top gainers posting a profit of 3.81% as opposed to the loss of -4.11% held at the previous trading session, settling its price at N21.80. 

Wema Bank had a more deterministic move from the previously held stalemate posting a significant profit of +3.45% putting its price at N0.60. Guarantee Trust Bank recovered from its bearish momentum and settled with the bulls to post a significant profit of +2.68% as opposed to the -3.28% held in the previous trading session to put its price at N8.75. Access Bank also had a slight recovery from its previous day’s loss of -2.47% to post a profit of +1.90% putting its price at N8.00. 

Sterling Bank made a gain of +1.31% to settle its price at N1.56 which is a slight recovery from yesterday’s massive loss of -9.47%. UBA held its price at N7.00 with gains of +0.72%. EcoBank and Union Bank both held stalemates with equivalent prices of N4.90  

Outlook Market sentiments trended bullish as 6 companies in the NSE Banking Index made gains as opposed to 2 stalemates and 2 losses at the end of the trading session today. Nairametrics counsels cautious participation in the market amid growing uncertainties in Nigeria