FUGAZ Investors Gain Over N35bn During The Week

The market capitalisation of Tier-1 banks, FBNH, UBA, GTCO, Access Bank and Zenith Bank, appreciated by 1.34 percent to close at N2.72 trillion as at the close of trading on the 25th of February, 2022. Investors in these banks also gained a total of N35.83 billion during the trading week.

Four of the 5 tier-1 Nigerian banks had also enjoyed positive market sentiments, with Guaranty Trust Holding Co Plc leading the gainers after 5 trading days of the week.

Data from the Nigerian Exchange (NGX) reveals that the market capitalisation of the top five banks grew to N2.72 trillion, appreciating by 1.34 percent during the week.

At the close of the trading week, FBNH’s share price grew by 1.32 percent to close at N11.55 a unit amid sell-offs and buy-interests.  The bank’s market capitalisation settled at N414.59 billion.

United Bank for Africa Plc also appreciated by 1.8 percent with its market capitalization at the close of the week being N297.53 billion, with a share price of N8.70.

GTCO Plc appreciated N20.60 billion with its market capitalization growing to N791.70 billion from N771.10 billion at the end of the week’s trading session.

The growth for GTCO  can be attributed to the increase in the share price from N26.20 traded at the end of last week, to N26.90 at the close of business, reflecting an increase of 2.67 percent.

For Access Bank Plc, the share price remained unchanged at the close of the week with N10.35, and the market capitalization stood at N367.89 billion.

The tier-1 bank had released its Q3 2021 financial result which also revealed a decline in net interest income by 3.43 percent to N67.66 billion, while profit after tax dropped by 9.11 percent, from N38.46 billion in September 2020 to N34.95 billion in September 2021.

Zenith Bank Plc gained N4.71 billion w-o-w after its market capitalization appreciated to N846.14 billion from N841.43 billion at the end of the week. This appreciation can be attributed to the 0.56 percent growth in its share price, from N26.80 traded at the end of last week, to N26.95 at the end of this week.