Culled—Proshare
22/11/2018/Proshare Research
The total volume of shares traded on the floor of the Nigerian Stock Exchange (NSE) on Thursday, November 22, 2018 rose by 182.90% following a spike of 2424% in the volume of shares traded in ZENITHBANK today.
At the close of trading, the tier-one bank emerged the most traded stock both by volume and value on the Nigerian bourse.
Over 605.54 million units of ZENITHBANK valued at N14.53 billion were traded, making it the highest single day transaction carried out on ZENITHBANK since July 21, 2015 and second-highest since December 13, 2010.
The total traded volume of ZENITHBANK represents 1.93% of its total share outstanding put at 31.39 billion, while the value of its traded shares also represents about 1.92 percent of its market capitalisation of N758.22 billion as at November 22, 2018.
The total volume and value in ZENITHBANK contributed 90.04 percent and 95.51 percent to the total market volume of 672.56 million units that changed hands and value of N15.22 billion, respectively.
It would be recalled that a similar upsurge in volume traded in ZENITHBANK was recorded on Wednesday, November 7, 2018, when 288.27 million units were traded and valued at N6.88 billion.
The earlier traded volume and value accounted for 64.04% and 73.20% of a total market volume of 450.14 million shares at an exchanged value of N9.39 respectively while the volume also represented about 1% of ZENITHBANK outstanding shares as at the period under review.
Graph 1: ZENITHBANK Five-Year share Price Movement
Source: NSE, Proshare Research
ZENITHBANK appreciated by a tick size of 0.62% to close at N24.15 per share while the high transaction volume recorded is said to be a cross deal.
The cross deal of 600 million shares valued at about $40million was a transaction sold by an international agency and bought by a local entity.
Table 1: Zenith Bank Volume Traded in November 2018
| Date | Volume of Shares Traded (Units) | % Change | Share Price (N) | % Change |
| 1-Nov | 24,365,493 | -17.59% | 23.2 | -1.28% |
| 2-Nov | 4,105,695 | -83.15% | 23.55 | 1.51% |
| 5-Nov | 6,987,071 | 70.18% | 23.7 | 0.64% |
| 6-Nov | 10,125,490 | 44.92% | 23.85 | 0.63% |
| 7-Nov | 288,272,177 | 2746.99% | 24 | 0.63% |
| 8-Nov | 2,156,475 | -99.25% | 24.3 | 1.25% |
| 9-Nov | 10,057,464 | 366.38% | 24.4 | 0.41% |
| 12-Nov | 11,738,654 | 16.72% | 24 | -1.64% |
| 13-Nov | 6,321,361 | -46.15% | 24.25 | 1.04% |
| 14-Nov | 20,721,430 | 227.80% | 24.05 | -0.82% |
| 15-Nov | 9,244,962 | -55.38% | 23.3 | -3.12% |
| 16-Nov | 9,810,373 | 6.12% | 24 | 3.00% |
| 19-Nov | 4,782,795 | -51.25% | 24.1 | 0.42% |
| 21-Nov | 23,990,494 | 401.60% | 24 | -0.41% |
| 22-Nov | 605,542,199 | 2424.09% | 24.15 | 0.62% |
Source: NSE, Proshare Research
