Zenith bank’s impressive results lift market

The strong results that Zenith Bank Plc declared today excited investors in the market as well as lifted the equity market.
Also, investors’ confidence on the outlook of the Nigerian economy lifted the market.
Consequently, the Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 0.49% to close at 25,373.42 points. The appreciation recorded in the share prices of Zenith Bank, Nigerian Breweries, GT Bank, Access Bank and Unilever were mainly responsible for the gain recorded in the Index. However, Year-to-Date, the Index depreciated by 5.59%. Similarly, the Market Capitalization appreciated by 0.49% to close at N8.78trn, compared with the depreciation of 0.62% recorded last Friday to close at N8.74trn.
The total value of stocks traded on the floors of The NSE was N2.54bn, up by 4.79% from N2.42bn recorded last Friday. The total volume of stocks traded was 254.74mn in 3,373 deals. The three most actively traded stocks were: Zenith Bank (69.11mn), Unic Insurance (62.30mn) and Corner stone Insurance (22.17mn). The most actively traded sectors were: Financial Services (224.20mn), Consumer Goods (13.88mn), and Conglomerates (8.01mn).