Zenith Bank dominates trading on NSE

Zenith International Bank dominated the activity chart on the nation’s bourse, accounting for 64.04 per cent of the total volume of shares traded. The News Agency of Nigeria (NAN) reports that the bank sold 288.27 million shares valued at N6.68 billion. Consequently, investors bought and sold 450.14 million shares worth N9.39 billion achieved in 2,858 deals, representing an increase of 200.79 per cent.

This was in contrast with a turnover of 149.65 million shares valued at N2.79 billion transacted in 3,063 deals on Tuesday. Further analysis of the activity chart shows that FBN Holdings came with an exchange of N40.95 million shares worth N303.49 million. Guaranty Trust Bank traded 33.74 million shares valued at N1.26 billion, while FCMB Group transacted 11.24 million shares worth N18.56 million. Access Bank sold a total of 9.39 million shares valued at N74.14 million.

However, the market indices recorded marginal loss, dropping by 0.14 per cent due to price depreciation. Specifically, the All-Share Index dipped 45.73 points or 0.14 per cent to close at 32,108.30 against 32,154.03 recorded on Tuesday. Also, the market capitalisation which opened at N11.738 trillion shed N16 billion or 0.14 per cent to close at N11.722 trillion. Seplat topped the losers’ chart, dropping by N2 to close at N638 per share. Lafarge Africa trailed with a loss of N1.70 to close at N15.70, Presco declined by N1.25 to close at N64.50 per share.

Dangote Sugar Refinery depreciated by 45k to close at N13, while Guaranty Trust Bank shed 25k to close at N37.05 per share. Conversely, Nigerian Breweries led the gainers’ table, growing by 50k to close at N81.50 per share. Fidson followed with a gain of 40k to close at N4.90, while Redstar appreciated by 30k to close at N4.50 per share. United Bank for Africa added 20k to close at N8, while Zenith Bank increased by 15k to close at N24 per share.