National Australia Bank (ASX:NAB) closed in red today; here’s why

June 09, 2022 06:55 PM AEST | By Ritwika
Follow us on Google News:


  • National Australia Bank shares were highly influenced by its sectoral performance today. 
  • Moreover, National Australia Bank shares might have suffered today due to the decision of RBA. 
  • NAB’s peers, other major banks in Australia, also posted losses on the ASX today.

The shares of National Australia Bank Limited (ASX:NAB) closed 2.282% lower at AU$28.250 per share on the ASX today (9 June). The company gathered a significant amount of investors’ attention as more than 11 million shares of National Australia Bank were traded in today’s trading session on the ASX. 

The share price of National Australia Bank has gained over 6% on the ASX in the past 12 months. On the other hand, NAB’s year-to-date share price fell almost by 4% on the ASX. (As of 4:10 PM AEST, 9 June 2022). 

Why did National Australia Bank’s share price close in red today?

National Australia Bank did not come up with any significant announcement today. However, there could be other factors which had influenced National Australia Bank’s share price on the ASX today. 

ASX 200 Financial sector was one of the worst-performing sectors on the ASX today. 

The S&P/ASX 200 Financials sector (ASX:XFJ) closed 2.072% lower at 6054.100 on the ASX today. 

Therefore, we can say that one of the primary reasons behind NAB’s share price fall could be the sectoral influence. 

Another significant reason that is likely to affect the share price of National Australia Bank could be RBA’s interest rate hike. 

On Tuesday, the Reserve Bank of Australia (RBA) decided to raise the cash rate by 50 basis points to 0.85% in order to curb inflation.

National Australia Bank (NAB) share price

Image source: © Tktktk |

Moreover, the shares of the other major Australian banks, such as Australia and New Zealand Banking Group Limited (ASX:ANZ), Westpac Banking Corporation (ASX:WBC), and Commonwealth Bank of Australia (ASX:CBA), also buzzed in the red territory today. 

In a non-price sensitive announcement yesterday (8 June), National Australia Bank revealed that it had allocated AU$2 billion under its capital notes 6 offer. Initially, the Bank had allocated around AU$1 billion. 

The decision of revised the offer size was driven by the heavy demand of participating syndicate brokers and institutional investors. 

The capital notes will be issued under NAB’s ongoing funding and capital management strategy. The generated funds will be used for the Bank’s general corporate and funding process. 

Also read: Why is National Australia Bank (ASX:NAB) share price on investors’ radar today


The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Top ASX Listed Companies

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK