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Gains in FBNH, 10 stocks lift market capitalisation by N2b

By Helen Oji
21 September 2022   |   2:45 am
Despite some sell-off recorded by many blue-chip stocks, transactions on the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, as FBN Holdings (FBNH) and 10 other stocks lifted market capitalisation

Despite some sell-off recorded by many blue-chip stocks, transactions on the Nigerian Exchange Limited (NGX) closed in an upbeat yesterday, as FBN Holdings (FBNH) and 10 other stocks lifted market capitalisation by N2 billion.

The All Share Index (ASI) rose by 5.10 points, representing a growth of 0.01 per cent to close at 49,445.31 points.

Accordingly, investors gained N2 billion in value as market capitalisation went up to N26.670 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; FBN Holdings (FBNH), Fidelity Bank, Zenith Bank, R.T. Briscoe Nigeria and Linkage Assurance.

However, market breadth closed negative as 11 stocks recorded price appreciation while 14 others constituted the losers’ chart.

Reacting to market performance, analysts at Vetiva Dealings and Brokerage said: “We saw a couple of cross trades improve activity level amid mixed sectoral performance. We expect the latter to persist in tomorrow’s session as investors continue to favour alternative asset classes.”

On the price movement chart, R.T. Briscoe Nigeria recorded the highest price gain of 10 per cent to close at 33 kobo per share. FBNH followed with a gain of 5.00 per cent to close at N10.50, while Linkage Assurance rose by 4.35 per cent to close at 48 kobo, per share.

Regency Alliance Insurance went up by 4.00 per cent to close at 26 kobo, while Mutual Benefits Assurance appreciated by 3.70 per cent to close at 28 kobo, per share. Fidelity Bank added 2.05 per cent to close at N3.48 kobo. JaizBank gained 1.20 kobo to close at 84 kobo.

TransNational Corporation appreciated by 95 per cent to close at N1.06 kobo. Capital Hotel gained 29 per cent to close at N3.41 kobo. Zenith Bank also garnered 25 per cent to close at N19.80 kobo.

On the other hand, TotalEnergies Marketing Nigeria led the losers’ chart by 9.98 per cent to close at N211.10, per share. Learn Africa followed with a decline of 9.71 per cent to close at N1.86, while Honeywell Flour Mills shed 8.13 per cent to close at N2.26, per share.

Cutix shed 6.98 per cent to close at N2.00, while NPF Microfinance Bank went down by 6.63 per cent to close at N1.55, per share.

The total volume of trades increased by 119.1 per cent to 147.585 million units, valued at N2.394 billion, and exchanged in 3,323 deals. Transactions in the shares of Guaranty Trust Holding Company (GTCO) topped the activity chart with 35.820 million shares valued at N693.693 million.

Capital Hotel followed with 21.567 million shares worth N73.544 million, while FBNH traded 20.907 million shares valued at N208.916 million.

Zenith Bank traded 11.094 million shares valued at N219.149 million, while Chams transacted 7.872 million shares worth N2.353 million.