Investors Trade 782.2m Shares of Wema Bank, Zenith Bank, First Bank in One Week

March 1, 2021
wema bank shareholders

By Aduragbemi Omiyale

Last week, there were huge interests in the shares of Wema Bank, Zenith Bank and FBN Holdings on the floor of the Nigerian Stock Exchange (NSE).

For Zenith Bank, it was as a result of the N2.70 dividend its board recommended for the 2020 financial year and investors wanted a share of the goodie.

At the close of the week, the three companies traded 782.2 million units worth N8.9 billion executed in 4,624 deals, contributing 40.52 per cent and 43.15 per cent to the total equity turnover volume and value respectively.

According to data from the exchange, a total of 1.9 billion stocks worth N20.7 billion exchanged hands in 24,687 deals last week compared with the 1.5 billion shares worth N18.2 billion transacted the preceding week in 22,752 deals.

It was discovered that financial equities accounted for 1.5 billion units valued at N15.1 billion traded in 14,236 deals, contributing 75.11 per cent and 72.96 per cent to the trading volume and value respectively.

Shares in the conglomerates sector accounted for 154.9 million units worth N179.7 million in 798 deals, while equities in the consumer goods industry contributed 111.8 million units valued at N2.3 billion carried out in 3,865 deals.

A total of 19 stocks appreciated in price during the week, lower than 39 stocks of the earlier week, while 44 shares depreciated in price, higher than 33 shares of the preceding week, with 99 equities closing flat, higher than 90 equities recorded in the previous week.

The best-performing stock for the week was Academy Press as its equity price moved up by 17.14 per cent to 41 kobo per share.

Oando gained 12.38 per cent to sell for N3.45 per share, UPDC appreciated by 9.35 per cent to N5.85 per share, Chams rose by 9.09 per cent to 24 kobo per share, while Royal Exchange gained 8.00 per cent to close at 27 kobo per share.

The worst-performing stock last week was Lasaco Assurance as it depreciated by 26.79 per cent to settle at N1.23 per share.

Africa Prudential lost 21.23 per cent to sell for N5.75 per share, Sunu Assurances fell by 18.52 per cent to 66 kobo per share, Champion Breweries declined by 15.15 per cent to N2.52 per share, while Niger Insurance lost 13.04 per cent to trade at 20 kobo per share.

Business Post reports that in the week, the All-Share Index and market capitalisation depreciated by 0.96 per cent to 39,799.89 points and N20.823 trillion respectively.

Similarly, all other indices finished lower with the exception of the banking, NSE AFR Bank Value, NSE MERI Growth and oil/gas indices, which rose by 0.69 per cent, 1.34 per cent, 0.66 per cent and 0.97 per cent while the NSE ASeM and NSE Growth indices closed flat.

Aduragbemi Omiyale

Aduragbemi Omiyale is a journalist with Business Post Nigeria, who has passion for news writing. In her leisure time, she loves to read.

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