Market Volume Moved Up By 182.90% on ZENITHBANK’s Single Day Transaction


Proshare Research

The total volume of shares traded on the floor of the Nigerian Stock Exchange (NSE) on Thursday, November 22, 2018 rose by 182.90% following a spike of 2424% in the volume of shares traded in ZENITHBANK today.

At the close of trading, the tier-one bank emerged the most traded stock both by volume and value on the Nigerian bourse.

Over 605.54 million units of ZENITHBANK valued at N14.53 billion were traded, making it the highest single day transaction carried out on ZENITHBANK since July 21, 2015 and second-highest since December 13, 2010.

The total traded volume of ZENITHBANK represents 1.93% of its total share outstanding put at 31.39 billion, while the value of its traded shares also represents about 1.92 percent of its market capitalisation of N758.22 billion as at November 22, 2018.

The total volume and value in ZENITHBANK contributed 90.04 percent and 95.51 percent to the total market volume of 672.56 million units that changed hands and value of N15.22 billion, respectively.

It would be recalled that a similar upsurge in volume traded in ZENITHBANK was recorded on Wednesday, November 7, 2018, when 288.27 million units were traded and valued at N6.88 billion.

The earlier 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 while the volume also represented about 1% of ZENITHBANK outstanding shares as at the period under review.

Graph 1: ZENITHBANK Five-Year share Price Movement

Source: NSE, Proshare Research

ZENITHBANK appreciated by a tick size of 0.62% to close at N24.15 per share off the high transaction volume recorded in a cross deal.

The cross deal involved 600 million units of shares valued approx. $40million; sold by an international agency and bought by a local entity.

Table 1: Zenith Bank Volume Traded in November 2018

Date Volume of Shares Traded (Units) % Change Share Price (N) % Change
1-Nov 24,365,493 -17.59% 23.2 -1.28%
2-Nov 4,105,695 -83.15% 23.55 1.51%
5-Nov 6,987,071 70.18% 23.7 0.64%
6-Nov 10,125,490 44.92% 23.85 0.63%
7-Nov 288,272,177 2746.99% 24 0.63%
8-Nov 2,156,475 -99.25% 24.3 1.25%
9-Nov 10,057,464 366.38% 24.4 0.41%
12-Nov 11,738,654 16.72% 24 -1.64%
13-Nov 6,321,361 -46.15% 24.25 1.04%
14-Nov 20,721,430 227.80% 24.05 -0.82%
15-Nov 9,244,962 -55.38% 23.3 -3.12%
16-Nov 9,810,373 6.12% 24 3.00%
19-Nov 4,782,795 -51.25% 24.1 0.42%
21-Nov 23,990,494 401.60% 24 -0.41%
22-Nov 605,542,199 2424.09% 24.15 0.62%

Source: NSE, Proshare Research

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.


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