Access Bank (www.accessbankplc)  is still sustaining its positive momentum, while others banks in Tier-I have reduced their year to date losses with November gains. The November gains across banking index has helped to reduce year to date negative return as market soak up new information.

Chart readings show that the trend has been largely positive with big banks recording price increase in the recent sectorial concentrated bullish line.

In the last 7 days trading on the bourse, there was apparent shift in sentiments to some banking stocks.

Especially, the big banks that account for significant size of the market were priced high due to ease of trading their stocks. Others in Tier-II did achieve some pushes also.

Market observers said the ban on individuals from buying directly from open market operations instruments, which some platforms mistaken for Treasury-Bills did rattle the capital market.

Equity market then received heavy buying interests, thereby forced decline on yield on fixed instrument – Treasury Bills.

Investment experts told MarketForces that the on-going rally around these banks stock is not a joke.  Investors are excited to seeing the prices of their stocks growing and hoping the trend would stay.

“This makes investing better when dividend paying stocks in line with their individual performance, fundamentals”, an investor told MarketForces.

However, some analysts added that the market is reacting to earnings per share surprises in the third quarter earnings season, new information and perhaps analysts’ revisions to EPS for the fourth quarter.

Access bank, Zenith, Guaranty Trust Bank, FBNH and of course UBA has recorded uptick price performance in just 15 days after earnings season rest.

Instead of turning positive returns, other than Access Bank that is in green, other Tier I are closing year to date losses.

Month to date, MarketForces observes that stock market has taken some kind of earnings information and market surprises in banking stock.

Speaking with some equity analysts, consensus has been that there is general sentiment puffing up around banking stock and they expect this to drive the market.

On the other hands, these analysts observed specific sentiments rallying around Access Bank stock in particular.

For the bank, the trend line has continued to swing up, as ACCESS Bank share price maintaining such trajectory that has not been seen in the past.

At market cap of N373.224 billion, Access Bank rose from year low at N5.3, the stock price doubled up as it closed the trading session last week at N10.50.

Tracking the stock market chart, analysts observed that Tier-I banks are doing just fine, but Access Bank stock is doing superbly well at the moment.

This stock has gained 61.54% year to date.

The stock keep breaking bar surged by more than 30% month to date, after both earnings release.

Guaranty Bank Plc traded at N29 on Friday, as the bank’s market cap pitched at N853.504 billion. The recent rally has reduced year to date loss to 15.94%. At the beginning of the year, GTBank stock was N34.45. It had dropped to N24.90 in the year.

United Bank for Africa gained has helped reduce its year to date loss to 5.13%. The stock closed trading session on Friday at N7.40, having peaked at N8.20 in the year. The lowest price it had traded was N5.50. Market values UBA at N253.075 billion.

At market cap of N245.882 billion on 35,895,292,792 shares outstanding, FBNH year to date loss was reduced to 14.38% as the share traded at N6.85 on Friday.

It had peaked at N8.45 in the year before it dropped low to N4.50, though the share opened at N7.95. In November 7th, FBNH stock hit the bottom in the week at N5.40

Investors think Zenith Bank worth N591.823 billion as they traded the share at N18.85 on Friday, thereby reduced its year to date loss to 18.22%.

November 7th, the stock traded at N17, but closed at N18.85 on Friday, having peaked at N26 in the year before it dropped low to N16.20. It had opened floor at the beginning of the year at N23.05.