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Banking Stocks: ZENITHBANK Records 24.42% Gain One Week After As UBA Dips By -10.71%

Stock & Analyst Updates	1971 VIEWS
Stock & Analyst Updates
1971 VIEWS

Friday, March 20, 2020 / 09:13 AM / By Proshare Research / Header Image Credit: EcoGraphics

Barely one week after our analysis ( Titled: Zenith Bank Share Price Hits N10.85k; Lost N249.60bn In Market CAP, -42.29% Wtd) on ZENITHBANK and by extension banking stocks, it is pertinent to note that eight (8) out of the thirteen (13) stocks reviewed has recorded price appreciation one week after.

ZENITHBANK topped the list of stocks with price appreciation with +24.42% gain recorded. This is closely followed by UBN and ETI with +20% and +11.36% gain respectively. However, UBA (-10.71%), STERLNBANK (-6.09%) and two (2) other stock dipped. FBNH remained flat with during the period under review after dropping by -25.23% one week ago.

Banking Stocks
S/No	Symbol	13-Mar-20	19-Mar-20	% Chg
1	ZENITHBANK	10.85	13.50	24.42%
2	UBN	6.00	7.20	20.00%
3	ETI	4.40	4.90	11.36%
4	FIDELITYBK	1.53	1.70	11.11%
5	UNITYBNK	0.43	0.46	6.98%
6	WEMABANK	0.46	0.48	4.35%
7	FCMB	1.50	1.55	3.33%
8	GUARANTY	18.10	18.30	1.10%
9	FBNH	4.00	4.00	0.00%
10	ACCESS	5.85	5.70	-2.56%
11	STANBIC	29.30	28.25	-3.58%
12	STERLNBANK	1.15	1.08	-6.09%
13	UBA	5.60	5.00	-10.71%

Source: NSE, Proshare Research

It will be recalled that a review of the banking stocks performance one week ago reflected that ZENITHBANK recorded the highest loss. It dropped by -42.29%. it was followed closely by ACCESS and GUARANTY with -31.18% and -26.42% loss respectively while STANBIC and UBN recorded the least loss with -16.29% and -14.89% loss in that order.

In Naira terms, ZENITHBANK has added N83.20bn to its Market CAP one week after losing N249.60bn in Market CAP a week ago. The bank added the highest amount in Naira terms to top the list and closely followed by UBN with N34.94bn and ETI with N9.17bn. However, UBA further lost N20.52bn in Market CAP while STERLNBANK lost N2.02bn.