Nigerian Stock Exchange vote GTBank most capitalised bank


Guaranty Trust  Bank, GTB, Plc, has emerged the most capitalized bank on the Nigerian Stock Exchange, NSE, for the month of March 2012.

According to the NSE report for the month of March 2012, GTBank, with a market capitalisation of N397.03 billion, dominated in the banking sector, while Zenith Bank Plc and First Bank of Nigeria Plc came second and third respectively.

Zenith Bank recorded a market capitalization of N389.32 billion while First Bank recorded a market capitalization of N327.3 billion.

Despite coming tops, GTBank’s share price dipped by 4.05 per cent from the previous month’s figures while it recorded a year-to-date decline of 5.33 per cent.

The share price of Zenith Bank Plc dipped by 6.98 per cent from the previous month’s figure, while it recorded year-to-date gain of 1.81 per cent.

First Bank, on the other hand, recorded month-to-month decline of 7.04 per cent and year-to-date gain of 12.7 per cent.

With this development, GTBank emerged the third most capitalized company on the NSE, trailing Dangote Cement Plc and Nigerian Breweries Plc.

Dangote Cement recorded the highest market capitalization of N1.763 trillion while Nigerian Breweries followed with a capitalization of N737.35 billion.

Other banks in the top-ten most capitalized category are Ecobank Transnational Incorporated – N138.34 billion and Access Bank Plc – N135.04 billion.

Market capitalisation is used to determine the size of a company. It is the total market value of a company’s outstanding shares.

Market capitalization is calculated by multiplying a company’s shares outstanding by the current market price of each share.

According to the NSE report, the total market capitalization of the 259 listed securities appreciated by 3.26 per cent or N377.83 billion in March 2012 to N11.95 trillion from N11.54 trillion recorded in February 2012.

The 199 listed equities accounted for N6.55 trillion, up by 3.34 per cent from the N6.35 trillion recorded in February 2012.

The increase in the Market capitalization during the month under review, according to the NSE, resulted from the listing of one Federal Government of Nigeria, FGN, bond, two State/local government bonds, two corporate bonds, one Preference stock, some supplementary admission and appreciation in prices.

On the other hand, the increase in equity market capitalization in March 2012 was attributed to appreciation in prices of shares.

The Financial Services sector emerged the most capitalized sector, with N2.043 trillion; Consumer Goods sector followed with a market capitalization of N1.973 trillion; Industrial Goods sector recorded N1.958 trillion; Oil and Gas sector – N188.589 billion, while the Construction/Real Estate sector recorded market capitalization of N124.982 billion.

 


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