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Nigerian Exchange Limited

FBN Holdings Plc Hits a New 52 Week High at N10.65 Per Share as Investors Continue to Buy Into the Company

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FirstBank Headquarter - Investors King

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

Symbols Volume Value
FBNH 317275556.00 3294128973.20
CHAMPION 49918180.00 126292995.40
ETI 38050165.00 269207908.05
UBA 22538078.00 181400701.50
FIDELITYBK 16555119.00 43354161.67

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

Symbols Last Close Current Change %Change
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

Symbols Last Close Current Change %Change
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 %

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Nigerian Exchange Limited

NGX Rebounds with N263bn Gain as Small and Mid-Cap Stocks Surge

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stock - Investors King

The Nigerian Exchange Limited (NGX) recovered on Thursday amid the surge in strong investor demand for small and mid-cap stocks.

The market capitalisation rose by N263 billion to N56.91 trillion.

The All-Share Index climbed by 0.47%, closing at 100,503.21 points, reflecting a solid buying interest across various sectors.

Despite the market’s overall positive performance, trading activity was subdued with a 64.3% decrease in average daily volume to 392.8 million units.

However, the number of deals increased by 3.4% to 9,013, while the traded value declined by 17.3% to N8.33 billion.

Guaranty Trust Holding Company led the volume trades, with 39.75 million shares worth N1.80 billion across 663 deals.

Meanwhile, Airtel Africa dominated in value, with trades worth N2.25 billion in just 34 transactions.

Sector performance was mixed. Gains were recorded in the oil and gas, consumer goods, and industrial goods sectors, rising by 0.19%, 0.07%, and 0.01%, respectively.

Notable stocks included Airtel Africa, Eterna Plc, Oando, and NASCON Allied Industries.

Conversely, the insurance and banking sectors faced losses, declining by 2.35% and 2.28%.

Top gainers of the day were United Capital, Oando, and Africa Prudential, while Linkage Assurance and Veritas Kapital led the decliners.

This rebound highlights investor confidence in Nigeria’s equities market, with opportunities emerging in small and mid-cap stocks.

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Nigerian Exchange Limited

Equities Market Dips 0.04% as Q2 Earnings Hit NGX

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Stock - Investors King

Nigeria’s equities market experienced a slight decline of 0.04% on Wednesday ahead of the second quarter (Q2) financial results.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) fell from the previous day’s high of 100,075.59 points to 100,032.32 points.

Similarly, the equities market capitalization decreased from N56.670 trillion to N56.645 trillion.

Jaiz Bank, Cutix, Zenith Bank, Universal Insurance, and FCMB Group were among the most actively traded stocks.

Investors exchanged 1,099,300,929 shares worth N10.076 billion across 8,720 deals.

Several stocks dominated the sell-side, including RT Briscoe, which fell from 70 kobo to 66 kobo, a 5.71% decrease.

FTN Cocoa dropped by 4.44%, while Tantalizer, Neimeth, and Consolidated Hallmark Holdings also saw declines.

The market’s year-to-date (YtD) positive return decreased to 33.78%. While this month has seen a marginal drop of 0.03%, the week still shows an increase of 0.36%.

The dip reflects investor reactions to the ongoing release of corporate earnings for Q2. As companies disclose their financial results, market participants are adjusting their positions accordingly.

As more Q2 financials are released, market volatility is expected. Investors are closely monitoring earnings reports to guide their investment strategies.

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Nigerian Exchange Limited

Nigeria’s Equities Market Gains 0.11%, Adds N62 Billion in Value

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stock - Investors King

The Nigerian equities market posted a 0.11 percent gain on Tuesday as increased buy-side actions boosted the market’s value by N62 billion.

This positive movement reflects renewed investor confidence and activity in the market.

Leading the charge were stocks like United Capital, UACN, and Cutix. Investors engaged in 8,151 deals, exchanging 368,392,413 shares worth N7.424 billion.

Among the top advancers, United Capital saw a significant rise from N30 to N33, adding N3 or 10 percent.

Cutix also performed well, climbing from N5.08 to N5.58, an increase of 50 kobo or 9.84 percent.

Sunu Assurances and Cornerstone Insurance were other notable gainers, with Sunu Assurances increasing from N1.29 to N1.39, adding 10 kobo or 7.75 percent, and Cornerstone moving from N1.95 to N2.10, up 15 kobo or 7.69 percent.

UACN also saw a substantial gain, rising from N14.15 to N15.20, an addition of N1.05 or 7.42 percent.

The market’s positive return year-to-date (YtD) now stands at 33.84 percent, with a marginal increase of 0.02 percent for the month. So far this week, the market has grown by 0.41 percent.

Key stocks such as Zenith Bank, Access Holdings, GTCO, Jaiz Bank, and UBA were actively traded, indicating strong investor interest.

At the close of trading on the Nigerian Exchange Limited (NGX), the All Share Index (ASI) and equities Market Capitalisation rose from the previous day’s low of 99,966.28 points and N56.608 trillion to 100,075.59 points and N56.670 trillion, respectively.

This uptick in market activity and value reflects growing optimism among investors, buoyed by positive corporate earnings and macroeconomic indicators.

As Nigeria’s market continues to evolve, stakeholders are hopeful for sustained growth and stability in the coming months.

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