Investors showed strong interest in stocks from top Nigerian banks like GTCO, Zenith Bank, and others on Thursday, pushing up the banking sector’s performance on the Nigerian Exchange.
Stocks from GTCO, UBA, Zenith Bank, Access Holdings, and FBN Holdings all gained value, making the banking sector the only one to close the day on a positive note.
The overall market, measured by the All-Share Index, dropped slightly by 0.05%, closing at 102,788.20 points. The total market value of all listed companies also settled at ₦63.14 trillion.
GTCO saw a new peak in its share price, reaching ₦61, which increased the company’s total market value to ₦1.795 trillion. Zenith Bank’s shares closed at ₦48.1, pushing its market value above ₦1.5 trillion. Access Holdings also performed well, with its shares closing at ₦24.70, raising its market value to ₦1.316 trillion.
UBA recorded a 2.34% daily price increase, boosting its market value to ₦1.196 trillion ahead of its earnings announcement. Meanwhile, FBN Holdings reached a market value of ₦1.019 trillion despite facing internal challenges.
Elsewhere in the market, most sectors performed poorly. The insurance sector recorded the biggest loss of 1.23%, while the consumer goods and oil & gas sectors also dipped by 0.81% and 0.36%, respectively. The industrial goods sector showed no change. However, the banking sector stood out with a 1.04% increase.
Trading activity was strong, with a 12.95% increase in the number of deals and a 50.28% rise in the total value of trades, reaching ₦22.78 billion. GTCO and SEPLAT were the most actively traded stocks. GTCO led in volume, with 42 million shares traded, while SEPLAT led in value, contributing ₦7.9 billion.
