First HoldCo Trading Hits N11 Billion as Institutional Demand Intensifies

First HoldCo Plc strengthened its position as one of the Nigerian Exchange’s (NGX) most actively traded equities on Wednesday after investors exchanged shares worth more than N11.06 billion.

Trading data showed that 88.94 million shares of First HoldCo changed hands during the session, generating N11.06 billion in transaction value, the highest recorded on the Exchange for the day.

The strong performance came as the NGX All-Share Index (ASI) declined 0.17 percent to 238,682.92 points, extending the market’s August correction.

Despite the weaker close, First HoldCo continued to attract substantial investor interest, suggesting confidence in the stock remained intact.

The N11.06 billion turnover represented a significant increase from the previous trading session, when First HoldCo recorded 61.71 million shares valued at N7.90 billion.

The sharp rise in transaction value indicates that buying interest in the stock continued to strengthen even as the broader market remained under pressure.

While Fortis Global Insurance Plc emerged as the most actively traded stock by volume with 134.01 million shares, the transactions were worth N267.98 million, underscoring the difference between trading activity driven by low-priced equities and institutional transactions concentrated in large-cap stocks.

Zenith Bank Plc ranked second by transaction value after investors traded 30.87 million shares worth N3.71 billion, followed by Access Holdings Plc, where 32.66 million shares valued at N910.46 million changed hands.

Veritas Kapital Assurance Plc also featured among the most actively traded equities, recording 28.63 million shares worth N34.12 million.

The trading pattern once again highlighted the financial services sector’s dominance on the Exchange.

Three of the five most actively traded stocks by value were financial institutions, reinforcing the sector’s role as the primary destination for institutional capital during the current market correction.

The concentration of liquidity in First HoldCo is particularly noteworthy given the broader weakness in the equity market. Rather than reducing exposure to large-cap financial stocks, investors continued to commit significant capital to the company, making it the clear leader in market turnover.

The session also reflected stronger overall market activity. Investors exchanged 733.35 million shares valued at N34.52 billion across 49,210 deals, compared with 668.72 million shares worth N23.83 billion in the previous session.

Although the benchmark index closed lower, the increase in turnover suggests investors remained active with capital rotating into selected counters rather than leaving the market.

First HoldCo’s continued dominance in trading value indicates that institutional investors remain focused on high-liquidity banking stocks, even as profit-taking persists across other sectors of the Nigerian equity market.