The Nigerian Exchange Limited (NGX) has closed positive week-on-week as ASI appreciated by 0.46% to close at 47,569.04.
NewsBeatng reports that the FUGAZ banks make up over 70% of the NSE Banking sector index, hence, strongly influencing the growth or otherwise of the index; hence, the NGX banking index grew by 0.65% from 375.48 last week to close at 371.07 points.
FUGAZ banks are the top five banks, referred to as the Tier-1 banks. They are Firstbank, Zenith Bank, GTCO, Access Bank and UBA.
