Business
FBN leads as FUGAZ stocks investors gain N134.54bn
The market capitalization of the top five banks referred to as the Tier-1 banks increased to N2.57 trillion as at the close of business on the 8th of October, 2021 as investors in these banks gained N134.54 billion during the trading week.
According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks grew to N2.57 trillion, an appreciation of 5.5% during the week.
First Bank Holdings Nig. Plc (FBNH) gained N62.82 billion as its market capitalization grew from N288.96 billion to N351.77 billion at the end of the week, making up 11% of the Fugaz capitalization. Amid sell-offs and buy-interests, at the end of the four-day trading session, FBNH share price appreciated from N8.05 to N9.80.
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During the week, investors traded about 460,154,692 units of the Bank’s shares valued at N4.51 billion, making the bank’s stock the most traded in value amongst the FUGAZs during the week.
United Bank for Nigeria Plc gained N13.68 billion as its market capitalization closed the week at N271.89 billion, with its share price closing the trading week at N7.95.
UBA Plc, during the week, traded a total of 70,965,269 units valued at N562.18 million at the end of the trading day.
In comparison, the bank’s share volume appreciated by 126.74%, from 31.30 million traded last week.
GTCO Plc gained a total of N16.19 billion after market capitalization appreciated to N841.73 billion from N825.54 at the end of the week’s trading session.
The growth can be attributed to the increase in the share price, from N28.05 traded the previous week, to N28.60 as at the close of business Friday, October 8, 2021 reflecting a growth of 2.00%.
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Access Bank Plc’s share price appreciated by 2.7% from N9.15 to N9.40 at the end of the week as the market capitalization grew from N325.24 billion to N334.13 billion to close the week.
At the end of the week, investors had traded a total of 72,489,558 units of the bank’s shares valued at N678.84 million. The total volume traded for the week grew by 189.61%, from a total of 25.03 million traded in the previous week.
Zenith Bank Plc gained N32.97 billion after its market capitalization appreciated to N769.21 billion from N736.25 billion at the end of the week. This appreciation can be attributed to the 4.5% increase in its share price from N23.45 traded at the end of last week, to N24.50 at the end of this week.
Hence, a total of 45,805,437 units of the bank’s shares were traded during the week, valued at N1.10 billion. The total volume, in comparison with the previous week, appreciated by 37.98%, from 33.20 million units traded last week.