Zenith Bank Climbs by 5% to N1.967 Trillion
Zenith Bank Plc climbed by 5.04% in the equities market as investors rushed Ajose Adeogun-headquartered financial service shares on the Nigerian Exchange (NGX).
Its share price surge, in addition to renewed demand in other competing financial services stocks, lifted banking index performance in the local bourse. Market analysts said Zenith latest rally was spurred in anticipation of the group 2024 earnings release, with investors taking positions ahead of the final dividend announcement.
By pattern, stockbrokers said they anticipate a spike in demand for Zenith Bank shares when the group announces its profit and dividend for 2024. Data from the Nigerian Exchange showed that Zenith Bank share price increased to N47.9 on Monday as more than 55 million shares valued at more than N2.6 billion exchanged hands.
The financial services group is trading at about 8% discount to its 52-week high in the stock market as of yesterday and at a significant distance to its lowest price in 12 months.
Zenith Bank ranked second in terms of market valuation in the Nigerian stock market with proven earnings and dividend track records. #Zenith Bank Climbs by 5% to N1.967 Trillion Naira Lost N19 amidst $231m FX Sales to Banks
