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  • Business - Companies
  • Updated: May 05, 2024

FBN Holdings leads surge on NGX, boosting investors gains by N811 Billion

FBN Holdings leads surge on NGX, boosting investors gains by

FBN Holdings Plc spearheaded a surge in the Nigerian Exchange Ltd, NGX, market indices by 1.46 percent, propelling investors to gain N811 billion amidst a week shortened to four days due to the May Day holiday. 

FBN Holdings led the gainers' chart with a remarkable 32.68 percent increase, closing at N27 per share. 

Sterling Financial Holdings followed closely with a 27.75 percent rise to close at N4.88, while UACN recorded a gain of 24.60 percent, closing at N15.45 per share. 

Julius Berger added 23.76 percent to close at N72.40, and Flour Mills rose by 20.66 percent to close at N36.80 per share. 

Conversely, Nascon Allied Industries Plc led the decliners with a 17.03 percent drop, closing at N43.60, followed by University Press, which fell by 16.67 percent to close at N2.05 per share.

Neimeth International Pharmaceuticals shed 14.14 per cent to close at N1.70, Berger Paints Plc declined by 9.87 per cent to close at N13.70, and Vitafoam Nigeria lost 9.81 per cent to close at N17 per share.

Meanwhile, 42 equities appreciated during the week, higher than 27 equities in the previous week.

Thirty-six equities depreciated in price, lower than 43 in the previous week, while 76 equities remained unchanged, lower than 84 recorded in the last week.

Consequently, the All-Share Index and Market Capitalisation appreciated by 1.46 per cent to close the week at 99,587.25 and N56.323 trillion, respectively, in contrast to 98,152.91 and N55.512 trillion posted last week.

Similarly, all other indices finished higher except NGX Consumer Goods, NGX Oil and Gas and NGX Industrial Goods which depreciated by 0.26, 0.68 and 0.36 per cent, respectively, while NGX ASeM and NGX Sovereign Bond indices closed flat.

Meanwhile, investors on the exchange floor traded 1.941 billion shares worth N32.644 billion in 35,807 deals this week, compared to 1.839 billion shares, valued at N34.258 billion, that exchanged hands last week in 37,528 deals.

The financial services industry measured by volume led the activity chart with 1.496 billion shares valued at N22.453 billion traded in 19,225 deals, thus contributing 77.08 and 68.78 per cent to the total equity turnover volume and value, respectively.

The consumer goods industry followed with 144.722 million shares worth N5.063 billion in 4,966 deals.

In third place was the conglomerates industry, with a turnover of 109.978 million shares worth N1.539 billion in 2,064 deals.

Trading in the top three equities, namely Abbey Mortgage Bank Plc, Guaranty Trust Holdings Company Plc and Access Holdings Plc, measured by volume, accounted for 898.940 million shares worth N14.314 billion in 5,518 deals.

These contributed 46.31 and 43.85 per cent to the total equity turnover volume and value, respectively.

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