Tier 1 bank stocks support bullish move as NGX market cap improves – Nairametrics

Investors in FBNH Plc and Zenith Bank Plc rallied shares of Tier 1 banks during the day’s trading session, gaining 2.59% and 3.87% of stock prices, respectively.

FBNH Plc started the day at N 11.60 and closed at N 11.90 per share while Zenith Bank started the day at N 24.55 to close at N 25.50 per share.

The NGX ASI closed at 41,882.97 points, reflecting 0.47% growth from the previous trading day and a cumulative annual return (YTD) of 4.00%. Meanwhile, the market capitalization increased by 103.18 billion naira.

As of today’s market close, Friday, December 10, 2021, the market value currently stands at 21.85 trillion Naira compared to 21.75 trillion Naira on the previous trading day.

Market width closed positively as MEYER led 24 winners and 13 losers dominated by UNITYBANK at the end of today’s session.

The stock market has gained 1,612.25 basis points since the start of the year.

NGX ASI Top winners

  • MEYER up + 10.00% to close at 0.33 N
  • SOVRENINS up + 9.09% to close at N0.24
  • UPDCREIT up + 8.64% to close at 4.40 N
  • GUINNESS up + 6.85% to close at N39.00
  • CHAMPION up + 6.27% to close at N2.71

NGX ASI Top losers

  • UNITYBANK down – 6.52% to close at N0.43
  • JAIZBANK down – 5.97% to close at 0.63 N
  • CUSTODIAN down – 5.33% to close at 7.10 N
  • COURTVILLE down – 5.13% to close at 0.37 N
  • CHAMS down – 4.76% to close at 0.20 N

Most traded NGX UPS by volume

  • CILEASING – 146,414,348 units
  • ACCESS – 55,842,719 units
  • FBNH – 35,346,020 units
  • FCMB – 35,295,301 units
  • UNITYBANK – 29,957,592 units

Most traded NGX UPS by value

  • CILEASING – N673 499 460.40
  • ACCESS – N510 963 838.75
  • FBNH – N415 071 357.40
  • ZENITHBANK – N331.172.172.30
  • NESTLE – N318,115,305,10

Market sentiment is trending towards the bulls, with the market differential favoring advances with 24 winners exceeding 13 losers.


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