FUGAZ Investors Make Gain Of N50 Billion During The Week

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FUGAZ Investors Make Gain Of N50 Billion During The Week

The market value of Nigeria’s top five banks (commonly referred to as tier-1 banks or FUGAZ) increased by 2.49% to N2.05 trillion at the end of the week. This is because investors in these banks made N49.79 billion in total profits.

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All of Nigeria’s Tier-1 banks saw a favorable market environment between Monday, October 17, and Friday, October 21, with FBNH topping the gainers.

Below is a summary of how each of the banks performed during the week under review. This is according to data from the Nigerian Exchange (NGX).

FUGAZ Investors Make Gain Of N50 Billion During The Week

FBNH PLC

FBNH’s share price appreciated by 7.78% to close the week at N9.7, with its market capitalization rising to N348.18 billion.

UBA PLC

United Bank for Africa Plc appreciated by 2.19% as its market capitalization closed the week at N239.40 billion to gain a total of N5.13 billion w-o-w, with its share price standing at N7.00.

GT Holding Company Plc

GTCO Plc appreciated by N16.19 billion after its market capitalization grew to N544.48 billion from N528.29 billion at the end of the week’s trading session. The growth can be attributed to the increase in its share price from N17.95 to N18.50, reflecting an increase of 3.06%.

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Access Bank Plc

Access Bank Plc’s share price appreciated by 0.63% to close the week at N8.05 and the market capitalization gained N1.78 billion to stand at N286.14 billion.

Zenith Bank Plc

Zenith Bank Plc gained N1.57 billion w-o-w causing its market capitalization to appreciate to N629.50 billion from N627.93 billion at the end of the week. The appreciation can be attributed to the 0.25% growth in its share price from N20.00 to N20.05.

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