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.

Advertisements

Read Also: Halima Abubakar Spills About Affair With Popular Pastor, Battles Unknown Sick

Top Five Tier-1 Investors Lost N42.21 Billion Combined During The Week
Stock market

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.

Advertisements

FBNH PLC

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.

UBA PLC

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.

Advertisements

Read Also: Cynthia Okereke’s Account Has Been Cleared- AGN President Gives Update On Missing Actors

Top Five Tier-1 Investors Lost N42.21 Billion Combined During The Week

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%.

Advertisements

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.

Advertisements

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.

Advertisements

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.