Investors Demand for FBN Holdings, 18 Others Lift Stock Market
Kayode Tokede
The stock market segment of the Nigerian Exchange Limited (NGX) appreciated marginally by 0.05 per cent on investors renewed interest in FBN Holdings Plc, Access Holdings Plc, and 17 others.
The stock market for the fourth consecutive trading this week has maintained positive momentum amid Central Bank of Nigeria (CBN) moves to lure investors with lucrative yield on Government Securities.
As FBN Holdings appreciated by 4.32 per cent to close at N35.00 per share, Access Holdings gained 1.52 per cent to close at N23.35 per share, the NGX All-Share Index nudged slightly higher by 0.05 per cent to settle at 104,056.21 basis points from 104,007.31 basis points the stock market opened for trading.
Consequently, the overall market capitalisation gained N27.64 billion to close at N58.83 trillion from N58.81 trillion it close for trading the previous day.
The market capitalisation in four days has appreciated by N1.54trillion driven by factor of demand and supply, most especially in Transcorp Power Plc, and Guaranty Trust Holding Company Plc,
Investor sentiment, as measured by market breadth was negative, as 19 stocks gained relative to 22 losers amid declining issues outnumbering the advancing ones.
Royal Exchange Plc leads the gainers chart, followed by Unilever Nigeria Plc and Tantalizer Plc.
Royal Exchange appreciated by 9.72 per cent to close at N0.79 per share, while Unilever Nigeria added 9.59 per cent to close at N16.00 per share. Tantalizer gained 8.57 per cent to close at N0.38 per share as UPDC increased by 7.14 per cent to close at N1.50 per share.
In addition, the stock price of Regency Insurance Plc grew by 5.41 per cent to close at N0.39 per share.
On the loser table, International Energy Insurance Plc was down by 10 per cent to close at N1.35 per share, while Sunu Assurance depreciated by 9.93 per cent to close at N1.27 per share. International Breweries dropped by 9.91 per cent to close at N4.00 per share as Consolidated Hallmark Insurance dipped by
Analysis of yesterday ‘s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 18.76per cent.
A total of 226.31mlliion shares valued at N7.41billiion were exchanged in 5,823 deals.
FBN Holdings led the activity with 28.56million shares worth N993.17 million. Transcorp followed with account of 27.07million shares valued at N43.67 million, while Access Corporation traded 25.27 million shares valued at N60.21 billion.
