Browsing: Zenith

Nigeria’s Big Banks Market Value Climbs to N4.81 Trillion Nigeria’s Tier-1 banks combined market value jumped above N4.81 trillion in…

The average yield on Nigerian Treasury bills (NTB) climbed by 68 basis points as deposit money banks, and other authorised dealers in the fixed income market reduced their holdings amidst spot rates adjustment expectations.

Investors saw N95 billion gain as equities market rebounded midweek after two consecutive negative performance in the week. Due to buying interest on some banking, and oil and gas name, the market recalibrated from downward trend, thus push the year to date return upward.

In the equities market, investors that were trading highs and lows on the Nigerian Exchange (NGX) gained more than N114 billion on Thursday due to bargain hunting in banking, amd industrial names, among others.

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.

Local deposit money banks in the tier-1 category have seen price declines in the stock market as a result of a persistently negative sentiment on the tickers. To some analysts, banks are between the devil and the blue red sea over rising interest rate.

Equities market capitalisation of the Nigerian Exchange (NGX) declined by N132 billion as investors reduced their shareholdings

Zenith Bank Names Adaora Umeoji New CEO Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji, OON,…

Tier-1 Banks Shrink to N5.8Trn as Investors Rebalance Portfolios The combined market value of Nigerian Tier-1 banks declined as equities…

GTCO and Zenith Bank extended their shows of strength, and market supremacy in the Nigerian Exchange.