Investors Are Ramping up UBA, Zenith, GTCO, Others on NGX
Reversing the previous downturn, shares of Nigerian big banks are currently trading higher. The market had priced these stocks lower amidst weak sentiment in the local bourse last week, causing investors to lose N290.1 billion over five trading sessions.
Zenith Bank Plc is currently trading above closing price of N30. The Adeogun Ajose headquartered lender’s market valuation fell below N1 trillion after shareholders sell down shares. Intraday, Zenith Bank is trading at N30.90, up by 3%.
GTCO, the last banking group standing at above N1 trillion in market valuation, is also trending. The orange brand that housed GTBank Limited moderated by 31% below its peak price as of Friday. Intraday trading data shows GTCO has popped up by 0.54%, from N37 to N37.3 due to moderate buying interest.
FBNH Plc is already up by 2.69% during the intraday trading session on the Nigerian Exchange today. The banking stock has surged to N21 from N20.45 on Friday. The market has touched down FBNH market valuation as market dynamics altered investors sentiment.
Pan African lender, UBA, market price has topped up by 7.3% during the intraday trading sessions on the Nigerian Exchange on Monday. The financial services behemoth market price surge to N20.55, leading the banking index performers during the intraday session, from N19.2 on Friday.
Trading at N16.75 per share, data from the Nigerian Exchange shows that Access Holdings PLC has joined the banking index positive drivers with 2.3% price appreciation during the intraday trading session. The Nigerian largest lender closed at N16.4 on Friday amidst bearish run in the Lagos bourse. Financial Reporting in Hyper-Inflationary Condition Delays VFD Audited Report
