Home Finance Nigeria Stock Market Report, 13th November, 2013

Nigeria Stock Market Report, 13th November, 2013

by Business News Report

nigstockThe All share index was down 90 basis points. The banking sector was in line with market sentiments, with more losses at the close of the session. FCMB however reversed the bearish trend of previous sessions with a 2.8 per cent mark-up while Wema Bank rallied, booking 8.4 per cent. On the flip side Zenith bank, FBNH and UBA lost 1.3 per cent, 1.1 per cent and 0.1 per cent apiece,  mid-tier banks Skye Bank and Sterling Bank were not spared either with losses of 0.4 per cent and 0.8 per cent. Attempts to lock in gains from the nascent price rally sent prices tumbling today, closing with glutting offers at limit down. It however closed flat though current sentiments could lead to a loss tomorrow. Eterna also dropped 4.8 per cent. Conoil, MRS and Oando however closed on the up-tick with gains of 10.2 per cent and 1.0 per cent.The bullish run on Transcorp continued today with a further 9.9 per cent mark-up and growing demand at limit up. A.G. Leventis and UACN on the other hand headed south with losses of 4.4 per cent and 2.4 per cent.

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