GTCO, Stanbic Buoy Banking Index, Investors Gain N1.7trn
Positive price movements in GTCO and Stanbic IBTC buoyed the Nigerian Exchange (NGX) banking index, with investors recording a N1.7 trillion surge in the combined equity portfolio value.
Data from the local bourse showed that the banking index gained 263 basis points (bps), supported by appreciation in STANBIC (+9.52%), GTCO (+0.91), ACCESSCORP (+4%), UBA (+2.13%), ZENITHBANK (+1.55%).
This was partially offset by mild declines in WEMABANK (-0.37%) and FIDELITYBK (-1.22%).
Stockbrokers reported that the consumer goods index rose by 54bps driven by gains in GUINNESS (+9.38%), NASCON (+6.21%), VITAFOAM (+5.35%), PZ (+3.74%), HONYFLOUR (+2.16%), INTBREW (+1.01%), and CHAMPION (+0.61%), despite weakness in DANGSUGAR (-1.68%), CADBURY (-6.38%), and MCNICHOLS (-10%).
The Oil and Gas Index edged lower by 11bps due to pressure on OANDO (-3.23%), while JAPAULGOLD (+9.91%) and SEPLAT was flattish. The market index advanced by +1.39% to close at 193,073.57 index points, driven by renewed interest in heavyweight tickers.
Notable gainers include PRESCO (+7.19%), FIRSTHOLDCO (+6.67%), NASCON (+6.21%), VITAFOAM (+5.35%), and MTNN (+4.00%), among others.
The market recorded a turnover of ₦38.47 billion, as 898.48 million shares exchanged hands in 61,953 deals, reflecting solid liquidity and continued investor confidence.
Month-to-date (MTD) and Year-to-date (YTD) returns closed at +16.75% and +24.07%, respectively, reflecting sustained investor optimism and the market’s resilience.
JAPAULGOLD topped the volume chart with 80.12 million units traded, followed by NSLTECH 71.77 million, MBENEFIT 58.68 million, and ZENITHBANK 53.22 million.
For Value GTCO (₦6.19bn) came top, followed by MTNN (₦5.54bn), ZENITHBANK (₦4.51bn), and PRESCO (₦2.15bn). Market capitalization rose by 1.39%, adding ₦1.7 trillion to ₦123.93 trillion. NB Plc. Boosts Earnings, Settles FX Debt with Rights Issue
