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FUGAZ stocks under Tinubu’s first 30 days: What you would have made if you invested N1 Million in each

June 29, 2023
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FUGAZ stocks under Tinubu’s first 30 days: What you would have made if you invested N1 Million in each
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The Nigeria Exchange Limited has witnessed a remarkable bullish run since President Bola Tinubu assumed office on May 29, 2023.

The equity market has responded positively to the implementation of major economic policies by the President, garnering widespread investor confidence.

Notably, the removal of Godwin Emefiele as the Governor of the Central Bank of Nigeria and the unification of the exchange rate have contributed to the impressive performance of the NGX, resulting in a gain of N1.67 trillion within just four days.

In this article, Nairametrics takes a closer look at the significant growth observed in the shares of Tier 1 banks collectively known as FUGAZ (FBN Holdings, UBA, GTCO, Access Holdings, and Zenith Bank) since President Tinubu’s inauguration. We examine the potential gains an investor would have made by investing one million naira in each of these stocks, assuming they were purchased on the last business day before the inauguration, which was Friday, May 26, 2023.

Before we delve into individual performances, let’s consider the total investment and overall gains.

With an initial investment of five million naira distributed equally among the FUGAZ stocks, investors would have seen their portfolio grow to a staggering total of N6,440,600. This represents a remarkable gain of 28.81%, amounting to a profit of N1,440,600.

Now, let’s analyze the performance of each stock
FBN Holdings Plc (22.74%)

On May 26, 2023, FBN Holdings closed at N13.85 per share. However, as of June 27, 2023, the share price had increased by 22.74% to N17.00 per share. This surge in value propelled the market capitalization from N497.15 billion to N610.22 billion. For an investor who had allocated one million naira to FBN Holdings, the gain would amount to N227,400.

UBA Plc (31.72%)

Shares of UBA closed at N9.30 per share on May 26, 2023. By June 27, 2023, the share price had soared by an impressive 31.72% to N12.25 per share. This increase led to a surge in market capitalization from N318.05 billion to N418.94 billion. Investors who allocated one million naira to UBA would have gained N317,200.

GTCO Plc (25.09%)

GTCO shares closed at N27.50 per share on May 26, 2023. As of June 27, 2023, the share price had risen by 25.09% to N34.40 per share. During this period, GTCO joined the exclusive group of stocks worth over one trillion naira, known as SWOOTs (Stocks Worth Over One Trillion). The market capitalization grew from N809.36 billion to N1.01 trillion. Investors who allocated one million naira to GTCO would have gained N250,900.

Access Holdings Plc (38.59%)

Access Holdings shares traded at N11.40 per share on May 26, 2023. By June 27, 2023, the share price had surged by an impressive 38.59% to N15.80 per share. The market capitalization also experienced substantial growth, increasing from N405.21 billion to N561.61 billion. Investors who allocated one million naira to Access Holdings would have gained

Zenith Bank Plc (25.92%)

Zenith Bank traded at N27.00 per share on May 26, 2023. As of June 27, 2023, the share price had appreciated to N34.00 per share, signifying a 25.92% increase. Zenith Bank became the first financial service company, followed by GTCO, to join the current group of stocks worth over one trillion naira (SWOOTs), with its market capitalization growing from N847.70 billion to N1.07 trillion. Investors who allocated one million naira to Zenith Bank would have gained N259,200.

Now peep our table below

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Nairametrics – https://nairametrics.com/2023/06/29/fugaz-stocks-under-tinubus-first-30-days-what-you-would-have-made-if-you-invested-n1-million-in-each/

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