One of Nigeria’s leading financial services, Zenith Bank has become the first financial institution in the country to join the group of stocks worth over one trillion (SWOOTs) as its market capitalisation crossed N1 trillion last week.
Zenith Bank has now joined MTN Nigeria Communication (largest company in market capitalisation), Airtel Africa, Plc, Dangote Cement Plc, BUA Foods Plc, BUA Cement Plc in the exclusive list of companies to have achieved the feat.
The bank’s share price appreciated by 3.23% from last week to close at N32 per share. The market capitalization gained N31.39 billion to close to N1.004 trillion.
The six companies contributed 67 per cent or N21.560 trillion to market capitalisation that closed June 23, 2023 at N32.237 trillion.
As at June 23, 2023, MTN Nigeria retained its status as the most valued company on the NGX as its market capitalisation declined to N5.404 trillion, followed by Dangote Cement that outpaced Airtel Africa.
Dangote Cement, the second most capitalised cement producer on the NGX, has a total market capitalisation of N4.90 trillion, while Airtel Africa depreciated by N83.43 billion WoW to close at N4.76trillion in market capitalisation.
The stock price of BUA Cement added 4.65per cent WoW as it closed at N90 per share, taking its market capitalisation to N3.05 trillion.