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FBNH drives trading on NGX, exchanges 605.01m shares

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FBN Holdings Plc (FBNH) emerged the most traded stock by volume on the Nigerian Exchange Ltd on Thursday.

Specifically, the company accounted for 605.01 million shares worth N8.90 billion.

Fidelity Bank followed with 20.59 million shares valued at N53.59 million, while Wema Bank traded 15.18 million shares worth N11.31million.

ETI accounted for 15.03 million shares valued at N88.88 million, while Transcorp transacted 13.77 million shares worth N13.01 million.

Consequently, the total volume of trades increased by 102.7 per cent with an exchange of 812.29 million shares valued at N10.58 billion in 4,863 deals.

This was against a total of 400.65 million shares worth N3.48 billion transacted in 5,145 deals on Wednesday.

Also, the All-Share Index grew by 63.95 points or 0.16 per cent to close at 40,829.15 from 40,765.20 achieved on Wednesday.

Accordingly, month-to-date and year-to-date gains increased to 1.5 per cent and 1.4 per share, respectively.

Similarly, the overall market capitalisation value increased by N33 billion to close at N21.275 trillion against N21.242 trillion on Wednesday.

The market positive performance was driven by price appreciation in large and medium capitalised stocks, which are; Presco, Okomu Oil, Lafarge Africa, FBNH and Ecobank Transnational Incorporated.

Analysts at Afrinvest Limited said: “In the final trading session, we expect market to sustain its bullish run on improved sentiment.”

The market breadth closed positive, recording 24 gainers as against 20 losers.

University Press led the gainers’ chart in percentage terms by 9.92 per cent to close at N1.44 per share.

Presco followed with 5.92 per cent to close at N85 per share.

Chams and Universal Insurance appreciated by 4.76 per cent each to close at 22k per share each.

UACN Property Development Company appreciated by 3.65 per cent to close at N1.99 per share.

On the other hand, BOC Gases led the laggards’ table in percentage terms by 9.87 per cent to close at N10.50 per share.

Caverton Offshore Support Group followed with 9.71 per cent to close at N1.58, while AXA Mansard Insurance shed 5.22 per cent to close at N2.36 per share.

Courteville Business Solutions shed 4.88 per cent to close at 39k, while Sovereign Trust Insurance depreciated by 4.35 per cent to close at 22k per share.

Chinyere Joel-nwokeoma

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective.A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour.The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.

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