The nation’s local stock exchange closed November on a bullish note, as the NGX All-Share Index and market capitalization appreciated 8.72% to end the month at 47,660.04 and N25, 959 trillion, respectively, despite rising inflation and rising interest rates.
This is the first time that the All-Share Index, which is the broad index that measures the performance of Nigerian stocks, has broken the 47,000 mark since 14the October of this year.
The ASI rose to 54,085.30 on May 27, 2022, but has since fallen 6,425.26 basis points or 11.88% in the past six months.
Market performance: Data obtained by thenaijaonpoint showed that activities on the Nigerian Stock Exchange, which opened the month at N23,877 trillion in market capitalization and 43,839.08 in the index at the start of trading on November 1, 2022, closed on November 31, 2022, at N25 ,959 billion and 47,660.04 index points, therefore, it has made a year-to-date monthly profit of around N2.082 billion or 8.72%.
- It was followed by the Banking Index with growth of 5.79% to 396.71 points from the 375.01 points it opened for trading in November.
- Historically, the banking sector has always been one of the sectors that benefits from an environment of inflation and rising rates. Therefore, market experts believe that, from a macro point of view, things are going to improve in the sector.
- Tea bank index which measures the performance of banks listed on the floor of the Nigerian Stock Exchange, however, the applicationrecieved by 5.79% to 396.71 points from 375.01 points that it opened for trading in November.
Meanwhile, Naijaonpoint analyzed how the share prices of the five-tier banks listed on the Nigerian Exchange Group traded in November 2022.Zenith Plc Bank,Acceso Holdings Plc, FBNH Plc, UBA PlcYGTCO plc.
Data obtained from the NGX showed that shares of the five banks posted a combined profit of N207.050 billion during the month under review.
These stocks were selected based on their price-performance ratio. table date and are represented by the percentage earned.
United Bank for Africa (UBA) Plc – 7.25%
- Shares in UBA Plc, a pan-African bank, enjoyed a positive run during the month. The shares gained 7.25% in share price over the month, going from N7.15 to N7.25 per share.
- The company enjoyed considerable buying interest which boosted the market capitalization to earn N3.420 billion to stand at N247.945 billion at the close of trading on November 30, 2022, from the opening figure of N244.525 billion in early trading on November 1.
- The consolidated and separate financial statements of United Bank for Africa for the period ended September 2022 show that the bank increased its profit in the third quarter of the year by 10.95% to record N116.0542 billion from N104.597 thousand. million in the third quarter of last year. year.
- UBA closed on the last trading day of Friday, December 9, 2022 at N7.40 per share on the Nigerian Stock Exchange (NGX), posting a gain of 1.4% on its previous closing price of N7.30.
Access Holdings Plc – 8.97%
- Access Holdings Plc also witnessed some positive sentiment during the month. The lender earned 8.97% on the price during the month, from N7.80 to N8.50. The bank witnessed buying pressure boosting the market capitalization to earn N24.882 billion to close at N302.134 billion at the close of trading on 30 Nov 2022, from the opening figure of N277, 252 billion at the beginning of the negotiation.
- Access Holdings Plc’s gross profits for the nine months ended 30 September 2022 increased by 30.9% to N906.9 billion from N693.1 billion recorded in the same period of 2021.
- This was driven by higher revenues from its corporate and investment banking segment, as well as from the commercial banking business.
- Access Holdings closed the trading day at N8.55 per share, posting a gain of 0.6% on its previous closing price of N8.50
zenith bank CLP -9.5%
- Shares in Zenith Bank Plc enjoyed a positive run during the month. The shares gained 9.5% in share price over the month, rising from N20.00 to N21.90 per share.
- The company enjoyed considerable buying interest which boosted the market capitalization to earn N59.654 billion to stand at N687.583 billion at the close of trading on November 30, 2022, from the opening figure of N627.929 billion in early trading on November 1.
- For the nine months ending 30 September 2022, the bank increased its profit in the third quarter of the year by 8.55% to record N174.331 billion from N160.594 billion in the third quarter of last year. .
- The bank reported a 19.66% growth in gross profit to N620.574 billion from N518.574 billion in 2021.
- Zenith Bank closed the weekend at N22.10 per share, posting a 0.2% gain on its previous closing price of N22.05.
GTCO Holdings Plc-13.648%
- Shares of GTCO Holdings Plc witnessed a sizeable rally during the month. Bank shares gained 13.64% in share price over the month, from N17.60 to N20.00. The positive sentiment propelled the market capitalization to gain N70.635 billion to settle at N588.623 billion at the close of trading on November 30, 2022, from the opening figure of N517.988 billion at the start of trading. deal of the month
- Guaranty Trust Holding Co Plc released its financial result for the third quarter of 2022 with a pre-tax profit of N169.724 billion, representing a year-on-year growth of 11.73% from the N151.907 billion reported in 2021. .
- Analysis of the results indicates that the group’s after-tax profit stood at Naira 130.348 billion compared to Naira 129.4 billion in 2021, representing a marginal growth of 0.73%.
- GTCO closed its last day of trading at N21.00 per share, posting a 0.5% gain on its previous closing price of N20.90.
FBN Holdings Plc-13.7%
- Shares of FBN Holdings Plc gained 13.7% during the period under review, from N9.85 per share to N11.20 per share, increasing market capitalization to earn N48.459 billion or 13.7% to close at N402.027 billion in market capitalization on November 30, 2022, from the initial figure of N353.568 billion.
- Over the nine-month period, FBN Holdings Plc reported a year-to-date profit to the tune of N91 billion, up 123% compared to the amount in the same period of 2021.
- Despite the presence of inflation during the period, the report shows that the group vastly improved its interest income by 42.3% to Naira 370 billion from Naira 260 billion a year earlier. This was mainly driven by an increase in investment securities, as well as loans and advances to customers during the period.
- FBNH closed trading over the weekend at 10.80 naira per share, posting a 0.9% gain from its previous closing price of 10.70 naira.
… Tier 1 Banks Earn N207 Trillion In Market Value By Nov 2022 Read More On … Naijaonpoint.