The price of FBN Holdings stock rose to a new 52-week high on Tuesday as more investors jump on the company’s shares following a series of adjustments made by the leading financial institution.
In the last 7 trading days, the stock has risen by 29.9 percent from N8.2 per share it closed on October 4, 2021 to N10.65 per share before pulling back slightly to close at N9.7 a share on October 12, 2021
On October 4, 2021, investors transacted 18,145,208 shares while that number jumped to 317,275,556 shares valued at N3.3 billion on October 12, 2021. Suggesting likely insider dealings considering the size of the transaction.
The company led gainers last week with 21.74 percent to outperform the Nigerian Exchange Limited.
FBNH was the most traded stock on Tuesday as shown below.
Top Five Trades
The Nigerian Exchange closed the day in the green with the All Share Index expanding by 0.45 percent to close at 40,896.96 index points, while the market value of all listed stocks rose to N21.311 trillion.
Investors traded 563,882,178 shares valued at N5.095 billion during the trading hours of Tuesday, against 191,311,638 shares worth N2.59 billion exchanged in 4,395 transactions on Monday.
Going by the transaction numbers, FBNH accounted for 77.72 percent of the total shares traded on Tuesday. In line with NSE disclosure policy, the bank would possibly delay disclosure announcement till later in the year to cover insider dealings ahead of third-quarter financial statements release or other major announcements.
Top Five Gainers
|CHAMPION||N 2.30||N 2.53||0.23||10.00 %|
|CORNERST||N 0.51||N 0.56||0.05||9.80 %|
|FBNH||N 9.70||N 10.65||0.95||9.79 %|
|SOVRENINS||N 0.22||N 0.24||0.02||9.09 %|
|LIVINGTRUST||N 0.67||N 0.73||0.06||8.96 %|
Top Five Losers
|CHIPLC||N 0.59||N 0.55||-0.04||-6.78 %|
|JAPAULGOLD||N 0.48||N 0.45||-0.03||-6.25 %|
|NEM||N 2.10||N 2.02||-0.08||-3.81 %|
|IKEJAHOTEL||N 1.14||N 1.10||-0.04||-3.51 %|
|OANDO||N 5.20||N 5.02||-0.18||-3.46 %|
Price of Shares of Nigerian Exchange Group Near N20 a Unit
The recently listed Nigerian Exchange Group (NGXGROUP) extended gains to N19.5 per share as more investors keyed into the prospect of the newly created company following the demutualisation of the Nigerian Stock Exchange to reposition the organisation for better growth and opportunities.
The Group listed 1,964,115,918 ordinary shares on the Nigerian Exchange Limited on Friday, 15 October 2021 at N16.15 per share.
On the same day, investors traded 3,562,076.00 shares of the company, pushing the price to N17.75 a share by the close of business.
The price of the stock continues to rise on Monday, hitting N19.5 per as more investors jumped on it. Investors traded 19,000,933 units on Monday.
Nigerian Exchange Group has now gained 20.74 percent in value since being listed on the Nigerian Exchange Limited on Friday.
“The most significant benefit of our listing on the NGX exchange is the ability it gives us to drive inorganic growth as we add new subsidiaries and business lines that complement our business. This new era is indeed very exciting for us and we look forward to many possibilities achievable from deepening our various partnerships,” stated Mr. Oscar Onyema, the Chief Executive of NGX Group.
Nigerian Stock Market Opens Lower on Wednesday
The Nigerian Exchange Limited (NGX) opened lower on Wednesday after shedding N153 billion on Monday.
The market value of all the listed equities hover around N21.455 trillion in the early hours of Wednesday, a N17 billion decline when compared to the N21.473 trillion the Exchange closed on Monday.
The NGX All-Share Index dipped to 41,112.99 index points on Wednesday from 41,144.67 index points it closed on Monday.
|NGXGROUP||N 17.75||N 19.50||1.75||9.86 %|
|IKEJAHOTEL||N 1.05||N 1.15||0.10||9.52 %|
|CUSTODIAN||N 7.30||N 7.85||0.55||7.53 %|
|HONYFLOUR||N 3.55||N 3.78||0.23||6.48 %|
|CHAMS||N 0.22||N 0.23||0.01||4.55 %|
Top Losers on Monday
|MAYBAKER||N 4.74||N 4.36||-0.38||-8.02 %|
|ROYALEX||N 0.64||N 0.59||-0.05||-7.81 %|
|NPFMCRFBK||N 1.85||N 1.71||-0.14||-7.57 %|
|FBNH||N 12.70||N 11.75||-0.95||-7.48 %|
|MBENEFIT||N 0.30||N 0.28||-0.02||-6.67 %|
Top Trades on Monday
Nigerian Exchange Group Lists N1.964 Ordinary Shares at N16.15 Per Share on NGX
Nigerian Exchange Group on Friday listed 1,964,115,918 ordinary shares on the Nigerian Exchange Limited’s Main Board following the demutualisation of the Nigerian Stock Exchange.
The listing was after the Nigerian Exchange Limited approved the application of the group to list its entire issued and fully paid 1,964,115,918 ordinary shares of 50 Kobo each at N16.15 per share.
The Group trading symbol NGXGROUP.
Speaking on the listing, Mr. Oscar Onyema, the Chief Executive of NGX Group, said the listing had opened up new opportunities for the company.
He said, “The demutualisation of the Nigerian Stock Exchange created the opportunity to restructure and reposition the organisation to achieve our expanded vision to be the preferred and premier exchange hub for Nigerian businesses and the wider African economy.
“The most significant benefit of our listing on the NGX exchange is the ability it gives us to drive inorganic growth as we add new subsidiaries and business lines that complement our business. This new era is indeed very exciting for us and we look forward to many possibilities achievable from deepening our various partnerships.”
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