Bank shares gain as market index rises by 1.17%

Trading closed on Thursday at the Nigerian Stock Exchange (NSE) on a positive note as the All-Share Index and the market capitalisation of the listed equities rose by 1.17 per cent to close at 41,957.50 basis points and N13.445tn, respectively.

Zenith Bank gained 4.72 per cent, while Access Bank rose by 4.11 per cent.

Stanbic IBTC Holdings Plc, parent company of Stanbic IBTC Bank, which fell by 0.40 per cent in the previous session, also recovered Wednesday's loss, gaining 1.44 per cent.

Other banks, which rose on Thursday, were Skye Bank Plc (4.75 per cent), Union Bank of Nigeria Plc (4.60 per cent), United Bank for Africa Plc (1.70 per cent), Fidelity Bank Plc (1.20 per cent), Guaranty Trust Bank Plc (0.87 per cent), and Ecobank Transnational Incorporated Plc (0.77 per cent).

FBN Holdings Plc, parent company of First Bank Nigeria Limited, was also up on Thursday by 3.11 per cent.