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Article: Nigeria: Investors stake N1.9bn on banking shares.
- Article from:
- TendersInfo
- Article date:
- September 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: babalu03
Despite raging crisis of confidence rocking the banking industry, investors at the Nigerian Stock Exchange (NSE) staked a whopping N1.9 billion on 231.031 million shares of banks in 3,188 deals.
Stock brokers said that even though the sub-sector was currently passing through hard times, it remained the major driver of the market stressing that banks still have a lot to offer to investors who take advantage of the low prices to position in the sector.
Largely driven by activity in the shares of Zenith Bank, United Bank for Africa (UBA), Access Bank and First Bank of Nigeria Plc, the sub-sector accounted for 62.24 percent of total ...