Zenith Bank emerges investors’ delight as NSE transactions maintain positive trend

Activities reopened on the Nigerian Stock Exchange (NSE) on Monday on a bullish note, with the market capitalisation improving by N43 billion, following investors’ reaction to Zenith International Bank 2016 result.
The market capitalisation, which opened at N8.738 trillion, rose by N43 billion or 0.49 per cent to close at N8.781 trillion.
Similarly,  the All-Share Index inched 122.04 points or 0.48 per cent to close at  25, 372.41 compared with 25, 250.37 recorded on Friday.
An analysis of the price movement table showed that Seplat led the gainers’ table, increasing by N18 to close at N388 per share.
Nigerian Breweries followed with a gain of N2 to close at N132 and  Guaranty Trust Bank gained 57k to close at N24.62 per share.
Unilever gained 50k to close at N29, while UACN appreciated by 40k to close at N13 per share.
Conversely, 7UP recorded the  highest loss for the day,  dropping by N6.50 to close at N100 per share.
Mobil Oil trailed with a loss of N5 to close at N250 and Cadbury was down by 45k to close at N8.55 per share.
UPL dipped 21k to close at N4.03 and Forte oil declined by 35k to close at N50.20 per share.
Zenith International Bank emerged investors’ delight in volume terms, trading 61.11 million shares worth N1.04 billion.
It was trailed by UNIC Insurance with a turnover of 60.30 million shares valued at N31.28 million and Cornerstone Insurance accounted for 22.18 million shares worth N11.21 million.
United Bank for Africa exchanged 19 .57 million shares valued at N95.96 million and United Capital traded 12.05 million shares worth N43.69 million.
In all, investors bought and sold by 254.75 million shares valued at N2.54 billion achieved in 3,372 deals, against 259.31 million shares worth N2.42 billion transacted in 2,402 deals on Friday.