Zenith Bank Leads NGX Trading Value With N2.59 Billion Turnover

Zenith Bank Plc led buying and selling by worth on the Nigerian Exchange on Tuesday after traders exchanged 21.01 million shares value N2.59 billion.

The financial institution’s N2.594 billion turnover represented roughly 10 % of the N25.88 billion traded throughout the equities market in the course of the session.

Zenith Bank achieved the very best transaction worth regardless of rating third among the many 5 most actively traded shares by quantity, highlighting the focus of market worth within the lender’s shares.

GTCO adopted with 16.07 million shares value N1.97 billion, whereas United Bank for Africa recorded the very best buying and selling quantity with 48.14 million shares valued at N2.12 billion.

Dangote Sugar recorded 9.27 million shares value N619.03 million, whereas FCMB traded 30.12 million shares valued at N328.31 million.

Combined, Zenith Bank and GTCO accounted for roughly N4.56 billion, equal to about 17.6 % of the whole N25.88 billion fairness turnover recorded in the course of the session.

Banking shares dominated total market exercise with Zenith Bank, GTCO, UBA and FCMB collectively accounting for 115.33 million shares value roughly N7.01 billion.

The 4 lenders represented about 33.1 % of whole fairness quantity and 27.1 % of transaction worth, reinforcing the banking sector’s dominance of buying and selling exercise.

Zenith Bank’s robust turnover got here after the inventory skilled promoting strain within the earlier week.

The lender had fallen 6.46 % from N134.70 to N126.00 in the course of the week ended October 16, rating among the many market’s greatest decliners because the NGX Banking Index dropped 3.15 %.

Overall market sentiment improved on October 20 with the NGX All-Share Index rising 0.26 % to 245,911.13 factors.

Investors exchanged 348.75 million shares value N25.88 billion in 32,639 offers, whereas equities market capitalisation closed at roughly N159.668 trillion.