Zenith Bank Spikes on Investors Q4 Earnings Bet
Zenith Bank Plc market value hits record high in the equities segment of the Nigerian Exchange during early trading hours on Wednesday. Its 31.396 billion shares outstanding were priced above N1.48 trillion during a midweek rally that pushed its market price to N47.25.
The banking stock breached some resistance levels as investors increased shareholding in Ajose Adeogun based financial services warehouse. According to data from the Nigerian Exchange, Zenith Bank share price rose to N47.25 two hours after trading session began over bargain hunting.
The current price is the best Zenith Bank has reached in 52 weeks in the Nigerian stock market amidst the industry’s recapitalisation. Stockbrokers said demand for the bank’s share increased in anticipation of better Q4 earnings as well as full-year results.
The local bourse has continued to re-rate the banking stocks. #Zenith Bank Spikes on Investors Q4 Earnings Bet Naira Plunges as Banks Resume FX Sales to Customers
