These SA Investors Explain Why They’re Doubling Down On Zenith & Access Bank Shares

Nairametrics| This February alone about 162 million units of Zenith Bank has crossed hands. The share price has failed to cross the N16 resistance level but instead has breached the support price of  N15. A further sell off and it’s back to the N14 territory. 

Access Bank on the other hand has seen about 73 million units sold with the share price still struggling to cross the resistance price of N7. It closed at N6. 6 on Wednesday. 

But this to some people is good news. Reports suggest South African firm, Allan Gray Ltd, the largest manager of non-government investment funds in Africa, has increased its stake in Zenith and Access banks.

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Ugo Obi-chukwu

Ugo Obi-chukwu "Ugodre" is a chartered accountant with over 16 years experience in financial management, corporate finance and financial analysis. He is also a retail investor and a personal finance advocate with over a decade experience investing in the Nigerian stock market. Ugo is the founder of Nairametrics and blogs regularly on the website.

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