Zenith Bank Plc led trading by value on the Nigerian Exchange on Tuesday after investors exchanged 21.01 million shares worth N2.59 billion.
The bank’s N2.594 billion turnover represented approximately 10 percent of the N25.88 billion traded across the equities market during the session.
Zenith Bank achieved the highest transaction value despite ranking third among the five most actively traded stocks by volume, highlighting the concentration of market value in the lender’s shares.
GTCO followed with 16.07 million shares worth N1.97 billion, while United Bank for Africa recorded the highest trading volume with 48.14 million shares valued at N2.12 billion.
Dangote Sugar recorded 9.27 million shares worth N619.03 million, while FCMB traded 30.12 million shares valued at N328.31 million.
Combined, Zenith Bank and GTCO accounted for approximately N4.56 billion, equivalent to about 17.6 percent of the entire N25.88 billion equity turnover recorded during the session.
Banking stocks dominated overall market activity with Zenith Bank, GTCO, UBA and FCMB collectively accounting for 115.33 million shares worth approximately N7.01 billion.
The four lenders represented about 33.1 percent of total equity volume and 27.1 percent of transaction value, reinforcing the banking sector’s dominance of trading activity.
Zenith Bank’s strong turnover came after the stock experienced selling pressure in the previous week.
The lender had fallen 6.46 percent from N134.70 to N126.00 during the week ended October 16, ranking among the market’s biggest decliners as the NGX Banking Index dropped 3.15 percent.
Overall market sentiment improved on October 20 with the NGX All-Share Index rising 0.26 percent to 245,911.13 points.
Investors exchanged 348.75 million shares worth N25.88 billion in 32,639 deals, while equities market capitalisation closed at approximately N159.668 trillion.