Jan 9 (Lagos) - What was missing from the on-going stock market rally was found today as the big banks finally participated in the rally and that pushed the all stock index higher by more than 3.5% by the close of day.
Firstly, the pumping continued in
TRANSCORP and TRANSCORPHOT while investors wonder what is really fueling the gains here unless the financial results are going to be a blow-out. Others think there might be some un-bundling of businesses which could create value. Both stocks are up much more than 1000% each over the last year.
GT Bank (
GTCO ) & Zenith (
ZENITHBANK ) rose by 10% each to close at N 48.20 and N 47.35 respectively. The third bank that achieved a trillion Naira valuation this week
UBA remained the most in-demand stock at the exchange today and gained 10% as well. We are talking high volumes here and
ACCESSCORP ,
FIDELITYBK ,
FCMB ,
WEMABANK ,
JAIZBANK &
UNITYBNK were in high demand today as well.
reporting for easykobo.com on Tuesday, January 9 2023 from Lagos, Nigeria