Investors staked N3.713 billion on 272.839 million shares in 4,945 deals at the stock market yesterday, even as price losses by bellwethers pushed the market to the negative territory.
Compared to the previous day, the volume of trading rose by 2.2 per cent, while in value terms, it was a decline of 11.9 per cent. Zenith Bank Plc led the activity chart with 57.8 million shares followed by Access Bank Plc with 33 million. United Bank for Africa Plc closed as the third most actively traded with 22.4 million shares. In value terms, Zenith Bank accounted for N1.3 billion trailed by Dangote Cement Plc with N414 million, while MTN Nigeria Communications Plc with N351.2 million.
Conversely, the NSE Banking Index fell by 3.6 per cent, while the NSE Industrial Goods Index declined by 0.5 per cent. The price drop in Access Bank Plc came despite the bank’s announcement of acquiring majority stake in Kenyan-based Transnational Bank. According to the bank, the acquisition is in line with its strategic objective of becoming Africa’s gateway to the world and ties into its strategy to establish footprints in key Kenyan markets.
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