Zenith Bank Gains N25.117bn As Unity Bank Sheds 8.33% On NGX
The market Capitalisation of Zenith Bank Plc soared by N25.117 billion on the floor of the Nigerian Stock market on resumption of trading on Monday of a new week.
The lender surged by N25.117 billion representing 3.6 percent in one day trading session to put its
total market capitalisation at N722. 119 billion up from N697. 002 billion.
Also, the value of the bank sgee price rose by 3.6 percent or N0. 8 Kobo to stand at N23 per share up from N 22. 2 Kobo per share. Its outstanding shares are currently at
31,396,493,786.00. Zenith Bank is the second biggest bank on the NGX based on market capitalisation only behind Guaranty Trust Bank Plc.
The upward movement of the bank’s market capitalisation also shoot up the banking index on the Nigerian Exchange Group Limited (NGX) as the index appreciated by 2.89 percent.
The banking index is the benchmark that assesses the performance of Nigerian Banks on the exchange.
Monday’s trading session as the index rose from its 354.25 index point which it closed with on Friday to 364.50 index point on Monday, indicating a growth of 2.89 percent.
However, despite the increase of the banking index, it didn’t stop Unity Bank Plc from falling sharply on the market on Monday.
The market capitalisation of the bank shed N584.466 million, representing 8.33 percent on the Nigerian Bourse on Monday.
Unity Bank, the smallest bank on the Equities market in terms of market capitalisation closed transaction at N6.429 billion down from N7. 013 billion.
Its share price also dipped, closing at N0. 55 Kobo per share as against its opening price of N0.60 kobo per share. While the bank’s outstanding shares remain at 11,689,337,942.00.
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