FUGAZ stocks investors gain N12.35 billion during the week

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The market capitalization of the top five banks referred to as the Tier-1 banks increased to N2.44 trillion at the close of business on August 13, 2021, as investors in these banks gained N12.35 billion during the trading week.

According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks grew to N2.44 trillion, an appreciation of 0.5% during the week.

The gain can be attributed to the buy-interests witnessed in the share prices of the banks, during the five trading days.

A summary of performance for each bank is captured below.

FBNH PLC

First Bank Holdings Nig. Plc remained unchanged at the end of the trading week to close at N7.30 per share with a market capitalization of N3.59 billion as at close of business on Friday.

During the week, investors traded about 34,015,246 units of the Bank’s shares valued at N247.18 million. The volume of shares traded depreciated by 31.43%, when compared to 49.61 million units traded the previous week.

The bank released their second-quarter result which revealed that Interest income for the period decreased by 19.36%. However, net profit for the period reported a growth of 79.76% from N12.50 billion in Q2 2020 to N22.47 billion in Q2 2021

UBA PLC

United Bank for Nigeria Plc gained N3.42 billion as its market capitalization appreciated from N256.50 billion to N259.92 billion, due to the increase in its share price from N7.50 to N7.60, reflecting a growth of 1.3%.

UBA Plc, during the week, traded a total of 29,433,508 units valued at N223.23 million at the end of the trading day.

In comparison, the bank’s share volume depreciated by 39.41%, from 48.57 million traded last week.

UBA Plc is yet to release its second-quarter financial statements for Q2 2021.

GT Holding Company Plc

GTCO Plc gained a total of N7.36 billion after market capitalization appreciated to N831.43 billion at the end of Friday’s trading session.

The growth can be attributed to the increase in the share price, from N28.00 traded the previous week, to N28.25 at the close of business Friday, reflecting a growth of 0.90%.

During the trading week, investors traded a total of 46,935,070 units of the bank’s shares valued at N1.32 billion, making the bank’s stock the most traded in volume and value amongst the FUGAZ during the week. The bank traded its highest number of shares on Tuesday at 37.28 million units valued at N1.04 billion.

In contrast with the volume traded last week, share volume for this week increased by 3.14% from 45.50 million.

GT Holding Company is yet to release its second-quarter financial statements for Q2 2021.

Access Bank Plc

Access Bank Plc remained unchanged at the end of the trading week as its market capitalization stands at N323.46 billion to close the week at N9.10 per share.

At the end of the week, investors had traded a total of 20,151,222 units of the bank’s shares valued at N184.12 million. The total volume traded for the week advanced by 0.30%, from a total of 20.09 million traded in the previous week.

Access Bank Plc is yet to release its Q2 financial result for the year.

Zenith Bank Plc

Zenith Bank Plc gained N1.57 billion after its market capitalization appreciated to N766.07 billion from N764.50 billion at the end of the week. This growth can be attributed to the 0.2% increase in its share price from N24.35 traded at the end of last week, to N24.40 at the end of this week.

Hence, a total of 33,263,710 units of the bank’s shares were traded during the week, valued at N808.07 million. The total volume, in comparison with the previous week, depreciated by 3.98%, from 34.64 million units traded last week.

Zenith Bank Plc is yet to release its Q2 financial result for the year which has been approved by the Board of Directors but still awaiting approval by the apex bank.

What you should know

The Nigerian Exchange Limited (NGX) closed positive week-on-week as ASI appreciated by 1.83% to close at 39,522.34

The FUGAZ banks make up over 70% of the NSE Banking sector index, hence, strongly influence the growth or otherwise of the index.

The NGX Banking Index increased by 0.49% and closed positive at 381.01.

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