DAY TWO SCRAMBLE FOR ZENITH BUT CONTINENTAL TOP VOLUME

It was day two scramble for Zenith International Tuesday February 28 as another very large was sold but Continental Insurance topped volume.

A total of 107,251,911 units in Zenith, that is almost double yesterday's lead volume was sold in 746 deals 0.68% down on opening price per share.

But it was not the day's high. That belonged to a rarely traded equity Continental Insurance in which limited interest 7 deals were recorded for day high 203,190,000 units.

Propped by this the Insurance sector contributed almost 50% (215,618,708 units) to the day's 444,504,723 shares, up 74.5%.

The two leading volume equities were followed from quite a distance by UBA's 175 deals for 23,876,412 shares then by rare 2 deals in Etranzact for 16,871,767 units and United Capital 230 deals for 15,691,732 shares.

The premium board dominated deals on the back of the Zenith scramble but the banking sector of the market had its dominant share too even though contributing only 57,145,107 to day volume.

Apart from Zenith's pace setting deals, GTB closed with 268 deals for 12,841,231 units followed by United Capital and UBA.

In all total deals recorded was 3336 down 1.1% on yesterday's number.

Top out of 15 gainers in Naira terms was N9.99 per share gain by Total which at 3.66% of opening fell short of the lead gain in % terms by UACN PLC up 5%.

In Total 14,120 units changed hands in 23 deals at its price level while UACN had 77 deals for 864,684 shares.

At 12 losers were less led by Forte terms in % terms(down 5%) followed by Honeywell Flour 4.76% and Guinness down 4.17%.

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