Zenith Bank shares depreciate by 95k

Zenith Bank plc shares on Thursday at the Nigerian Stock Exchange (NSE) depreciated by 95k to close at N27, The News Agency of Nigeria (NAN) reports. Flour Mills trailed with a loss of N1.40 to close at N31, while Cement Company of Northern Nigeria declined by N1.20 to close at N24 per share.

Dangote Sugar Refinery was also down by 85k to close at N18.95 per share. On the other hand, MRS led the gainers’ table, gaining N3.15 to close at N34.35 per share. Okomu Oil Palm followed with a gain of N2.70 to close at N85, while Ecobank Transnational Incorporated gained 45k to close at N20.50 per share. Ikeja Hotel appreciated by 11k to close at N2.35, while Law Union and Rock Insurance grew by 4k to close at 99k per share. Following persistent profit taking embarked by investors, the All-Share Index  dropped to 39,000 points while the index shed 426.70 points to close at 39,723.85 compared to 40,150.55 achieved on Wednesday.

Similarly, the market capitalisation which opened at N14.543 trillion dipped N154 billion or 1.06 per cent to close at N14.389 trillion. NAN reports that some large capitalised stocks posted price depreciation and was led by the Nigerian Breweries which lost N6.10 to close at N116.10 per share. Also, the volume of shares transacted closed lower as investors bought and sold 256.43 million shares valued at N2.002 billion recorded in 4,111 deals. This was in contrast with a total of 266.70 million shares worth N4.67 billion achieved in 3,721 deals on Wednesday. Sovereign Trust Insurance was the most active stock for the day, trading 53.53 million shares worth N13.39 million. Diamond Bank followed with an account of 29.56 million shares valued at N43.89 million, while Fidelity Bank traded 28,81 million shares worth N55.42 million.

Zenith International Bank sold 20.37 million shares valued at N558.31 million, while United Bank for Africa accounted for 13.03 million shares worth N145.80 million. (NAN)