ALERT: ZENITHBANK Trades 1% of Its Total Outstanding Shares and 64% of Total Market Volume

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Friday, November 09, 2018 /01:44 PM /Proshare Research


Reference: Proshare Markets

At the close of trading on Wednesday November 7th, 2018, Zenith Bank recorded an unusual upsurge in the volume of shares traded, making the tier-one bank the top traded equity both by volume and value on the bourse for the day in question.

Zenith Bank Plc (financial services sector), traded a total volume of 288.27 million shares worth N6.88 billion on Wednesday, its highest daily traded volume of shares since July 2017 and second highest since December 2010.

Proshare Nigeria Pvt. Ltd.

Source: NSE, Proshare Research

 

The traded volume and value accounted for 64.04% and 73.20% of a total market volume of 450.14 million shares at an exchanged value of N9.39 respectively.  

Consequently, the volume appreciation largely drove the NSE Banking index which moved up by 0.2%.  

The bank’s traded volume for the day is equivalent to or represents about 1% of its total share outstanding (at 31.39 billion); while the value of its traded shares also represented about 1% of its market capitalisation of N762.93 billion as at November 7, 2018. 

Despite an increase of 2,747 percent from 10.13 million shares transacted on Tuesday Nov 6th, 2018, Zenith Bank’s share price rose paltry by 0.63% to close at N23.85 per share. 

The stock is currently trading at N24.25 per share after it gained 1.25% on Thursday Nov 8th, 2018.


Proshare Nigeria Pvt. Ltd.

Source: NSE, Proshare Research

 

The latest increase makes it the third (3rd) major increase recorded on a daily basis in traded volume and value of Zenith Bank’s shares in 2018. 

 

Date

Volume

Daily Change

Value (N)

Daily Change

Price

Daily Change

13-Dec-10

615,424,918

1398%

8,753,124,940

1406%

14.3

2.14%

21-Jul-15

729,100,143

9353%

13,014,249,914

9338%

17.84

0.68%

7-Nov-18

288,272,177

2747%

6,875,635,662

2750%

24.3

0.63%

Source: NSE, Proshare Research

 

The first occurred on December 13, 2010 when the total traded volume and value rose by 1,398 percent and 1,406 percent from the previous trading day to 615.42 million shares and N8.75 billion, respectively. The share price gained 2.14 percent to close at N14.3 per share. 

The second significant increase in the trading Zenith Bank’s shares occurred on July 21, 2015, the volume and value traded surged 9,353 percent and 9,338 percent to 729.1 million shares and N13.01 billion, respectively. After the close of trade, the share price appreciated by 0.68 percent to close at N17.84 per share.


Reference: Proshare Markets


 Proshare Nigeria Pvt. Ltd.


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