Sberbank managed to overtake Gazprom in capitalization
According to the Moscow Exchange, Sberbank became the leader in terms of market capitalization, overtaking Gazprom. The last time the bank achieved similar results was in July 2019, as Forbes reports.
On January 20, at 6 pm, the capitalization of Sberbank was at around 5998.44 billion. The bank’s valuable and preferred shares increased by 1.7%. By the end of the day due to a decrease in the value of securities by 0.8%, the bank’s capitalization amounted to 5996.97 billion.
At the trading day closure, the increase in the value of securities amounted to 1.44%, and capitalization rose to 5.75 trillion. The price of Gazprom shares fell by 0.74%, and the market capitalization was over 6 trillion.
In July 2019, Gazprom twice came out on top in terms of capitalization on the Moscow Exchange. The first time was on July 23, but the company failed to hold its position. Two days later, Gazprom capitalization reached 5.33 trillion, and the one of Sberbank — 5.02 trillion.