The market capitalization of the top five banks in the country, Zenith, Access, GTB, FBN and UBA increased to N2.44 trillion at the close of business at the weekend.
According to data from the Nigerian Exchange (NGX), the market capitalization of the top five banks appreciated by 0.5 percent with investors gaining N12.35 billion during the trading week.
The gain can be attributed to the buy-interests witnessed in the share prices of the banks, during the five trading days.
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.
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 percent, when compared to 49.61 million units traded the previous week.
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 percent.
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 percent, from 48.57 million traded last week.
GT Holding Company Plc gained a total of N7.36 billion after market capitalization appreciated to N831.43 billion with the share price appreciating from N28.00 traded the previous week to N28.25, reflecting a growth of 0.90 percent.
Access Bank Plc remained unchanged at the end of the trading week as its market capitalization stood at N323.46 billion to close the week at N9.10 per share.
Investors traded a total of 20,151,222 units of the bank’s shares valued at N184.12 million at the weekend. The total volume traded for the week advanced by 0.30 percent, from a total of 20.09 million traded in the previous week.
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 percent increase in its share price from N24.35 traded at the end of last week, to N24.40 at the weekend.
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 percent, from 34.64 million units traded last week.
The five big banks make up over 70 percent of the NSE Banking sector index, hence, strongly influence the growth or otherwise of the index.
