Zenith Bank Share Price Hits N10.85k; Lost N249.60bn In Market CAP, -42.29% Wtd

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Thursday, March 12, 2020 05:48 PM / By Proshare Research / Header Image Credit: Zenith Bank

 

Just like the trend of negative performance witnessed in the market during the week by the majority of stocks listed on the Nigerian bourse, the shares of Zenith Bank Plc has been on downtrend since the beginning of the week. The share which closed the previous week at N18.80k hits N16.95k on Monday 9th March 2020. This represents -9.84% drop. It further dropped by -23.01%  on Tuesday 10th March 2020, by -7.66% on Wed March 11th 2020 and by -9.96% at the close of trading today to eventually hit N10.85k.


Chart 1: Zenith Bank Share Price Movement Wtd

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Table 1: Zenith Bank Share Price Movement Wtd

Zenith Bank

S/No

Symbol

Previous

Current

%  Chg

1

09-Mar-20

        18.80

        16.95

-9.84%

2

10-Mar-20

         16.95

        13.05

-23.01%

3

11-Mar-20

         13.05

        12.05

-7.66%

4

12-Mar-20

         12.05

        10.85

-9.96%

Source: NSE, Proshare Research

 

Week-to-date (Wtd), the stock has dropped by -42.29% as against -13.64% recorded by the NSEASI. This reflects that the shares of Zenith Bank has underperformed the NSEASI within the period under review.

 

Table 2: Zenith Bank Share Price Performance Mtd

S/No

Symbol

31-Dec-19

28-Feb-20

%  Chg

06-Mar-20

12-Mar-20

WTD %

MTD %

1

ZENITHBANK

18.60

18.50

-0.54%

18.80

10.85

-42.29%

-41.35%


Source: NSE, Proshare Research

 

In Naira terms, Zenith Bank has lost N249.60bn in Market CAP Wtd and N240.18bn Month-to-date (Mtd). See table 3 below The Market CAP of Zenith Bank recorded it highest single day drop on March 10th 2020 with N122.45bn lost in Market CAP. See table 4 below


Table 3: Zenith Bank Market CAP

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Table 4: Zenith Bank Market CAP Movement Wtd 

Zenith Bank - Market CAP

S/No

Symbol

Previous

Current

Diff

1

09-Mar-20

590,254,083,176.80

532,170,569,672.70

(58,083,513,504.10)

2

10-Mar-20

532,170,569,672.70

409,724,243,907.30

(122,446,325,765.40)

3

11-Mar-20

409,724,243,907.30

378,327,750,121.30

(31,396,493,786.00)

4

12-Mar-20

378,327,750,121.30

340,651,957,578.10

(37,675,792,543.20)


Banking Stocks

 

A review of the banking stocks performance week-to-date refleected 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.

 

Banking Stocks

S/No

Symbol

06-Mar-20

13-Mar-20

%  Chg

1

ZENITHBANK

18.80

10.85

-42.29%

2

ACCESS

            8.50

           5.85

-31.18%

3

GUARANTY

24.60

18.10

-26.42%

4

STERLNBANK

1.56

1.15

-26.28%

5

FBNH

            5.35

          4.00

-25.23%

6

ETI

            5.85

          4.40

-24.79%

7

WEMABANK

0.61

0.46

-24.59%

8

FIDELITYBK

           2.00

            1.53

-23.50%

9

FCMB

            1.85

           1.50

-18.92%

10

UNITYBNK

0.53

0.43

-18.87%

11

UBA

6.90

5.60

-18.84%

12

STANBIC

35.00

29.30

-16.29%

13

UBN

7.05

6.00

-14.89%

Source: NSE, Proshare Research

 

The Zenith Bank price decline reflected a general fall in banking sector equity prices in the course of the week as investors shifted from naira-denominated equities to safer dollar-denominated investment havens. The Banking Sector Index as at Thursday, March 12, 2020 fell by -8.51% from the previous Index value on Wednesday 11, 2020. Indeed for the week to Friday, March 13, 2020 the Index caved 29.11%. The fall in Zenith Bank shares was in line with overall market sell offs with the banking sector being the worst affected.

 

Aside Zenith Bank which dipped by 42% week-to-date (WTD) all other banking stocks ended the week in the red. The lowest decline was Union Bank Plc which saw its share price tumble by -14.89% on Thursday.

 

Also of note was that market breadth during the week was extremely negative. On Monday there was one price gainer as against 38 price losers, on Tuesday there were 3 price gainers as against 33 price losers. Wednesday saw the market firm up as negative breath narrowed with 18 price gainers and 20 price losers, however this was just a brief pause as Thursday saw negative breadth expand again with three price gainers and 44 price losers.


Related Link: Coronanomics: Inside Nigeria's Stock Market Response

 

One Year Share Price Movement

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Zenith Bank Results Q4 2019 Table

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