Big banks steer gains as Nigerian stocks add N13.5 billion

Big banks steer gains as Nigerian stocks add N13.5 billion

Nigerian stocks were up by 0.07 per cent on Thursday, extending gains reported at the previous trading session in an advance led by Zenith, GTB and Access Bank , three of Nigeria’s five biggest banks by asset commonly known by the acronym, FUGAZ.

That easily pushed the banking index to the forefront of performance of the five major sectorial indices tracked by the bourse with a 2.19 per cent jump to 346.87 basis points.

Trade, however, ended with a neutral market breadth with the number of gainers drawing level with that of loser, each reporting 13.

The all-share index edged up by 25.80 points to 38,799.83 and market capitalisation to N20.300 trillion. The index has fallen 3.65 per cent in January to date. TOP FIVE GAINERS

Consolidated Hallmark Insurance led gainers, appreciating by 9.68 per cent to close at N0.34. Japaul Gold lifted by 9.43 per cent to end trade at N0.58. Oando went up by 5.16 per cent to N3.26. AIICO rose to N1.26, notching up 5 per cent in the process. Zenith completed the top 5, climbing by 3.81 per cent to N21.80. TOP FIVE LOSERS

Royal Exchange led losers, declining by 7.69 per cent to close at N0.36. Stanbic shed 6.85 per cent to end today’s trade at N48.95. Jaiz Bank fell to N0.62, losing 6.06 per cent. Honeywell slumped to N1.13, recording 5.04 per cent depreciation. Daar Communications closed at N0.20, going down by 4.76 per cent. TOP FIVE TRADES

Volume was 59 per cent lower, with 145.332 million shares worth N1.576 billion were traded in 3,525 deals.

FBN Holdings was the most active stock with 21.851 million of its stock worth N157.179 million traded in 217 deals. GTB traded 589.173 million units priced at N589.173 million in 273 transactions. Zenith had 17.584 million shares valued at N379.878 million exchanged hands in 339 deals. Access traded 8.596 million shares estimated at N68.887 million in 249 transactions. Japaul Gold traded 7.580 million shares valued at N4.339 million in 56 deals.

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