Investors with the top five Tier-1 Nigerian banks have lost a total of N42.21 billion in the trading week as market capitalization depreciated by 1.89% to close at N2.19 trillion.
After 5 trading days of the week, all five of the tier-1 Nigerian banks suffered negative market sentiment.
Data gotten from the Nigerian Exchange (NGX), showed that market capitalization of the top five banks declined to N2.20 trillion as it depreciated by 1.89% during the week.
FBNH’s share price lost 1.79% to close the week at N11, with its market capitalization at N394.84 billion at the end of the week. Amid sell-offs and buy-interests, at the end of the trading week, FBNH lost N7.18 billion.
United Bank for Africa Plc depreciated by 1.37% as its market capitalization closed the week at N246.24 billion to lose a total of N3.42 billion w-o-w, with its share price standing at N7.20.
GT Holding Company Plc
GTCO Plc depreciated by N26.48 billion as its market capitalization decreased to N584.20 billion from N610.70 billion at the end of the week’s trading session.
The decline can be attributed to the decrease in its share price, from N20.75 traded at the end of last week to N19.85 as at the close of business, reflecting a decrease of 4.34%.
Access Bank Plc
Access Bank Plc’s share price depreciated by 1.10% to close the week at N9.00, and the market capitalization lost N3.55 billion to stand at N319.91 billion.
Zenith Bank Plc
Zenith Bank Plc lost N1.57 billion week-on-week after its market capitalization depreciated to N649.91 billion from N651.48 billion at the end of the week.
This depreciation can be attributed to the 0.24% decline in its share price, from N20.75 traded at the end of last week, to N22.70 at the end of this week.