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First bank lifts Nigerian stocks north in spite of sell-offs by blue-chip stocks

First Bank

Though many blue-chip companies experienced some selling, Tuesday’s trading on the Nigerian Exchange Limited (NGX) ended positively as FBN Holdings (FBNH) and 10 other equities increased market capitalization by N2 billion.

The All Share Index (ASI), which closed at 49,445.31 index points, increased by 5.10 points, or 0.01 percent.
As a result, investors made N2 billion in profit as the market valuation increased to N26.7 trillion.
Gains in medium- and large-capitalized firms, including FBN Holdings (FBNH), Fidelity Bank, Zenith Bank, R.T. Briscoe Nigeria, and Linkage Assurance, had an impact on the recovery.

Market breadth, however, ended in the negative as 11 equities saw their prices rise while 14 other stocks were included in the losers’ chart.
R.T. Briscoe Nigeria earned the largest price rise of 10% to close at 33 kobo per share on the price movement chart. Linkage Assurance increased by 4.35 percent to settle at 48 kobo per share, while FBNH gained 5.0% to conclude at N10.50.

Mutual Benefits Assurance increased by 3.70% to close at 28 kobo per share, while Regency Alliance Insurance increased by 4.00% to close at 26 kobo. To conclude at N3.48 kobo, Fidelity Bank gained 2.05 percent. To close at 84 kobo, JaizBank gained 1.20 kobo

The price of TransNational Corporation increased by 95% to close at N1.06 kobo. Capital Hotel increased by 29% to finish at N3.41 kobo. Additionally gaining 25% to close at N19.80 kobo was Zenith Bank.
TotalEnergies Marketing Nigeria, on the other hand, topped the losers’ chart by 9.98% to settle at N211.10 per share. Learn Africa fell 9.71 percent to close at N1.86, and Honeywell Flour Mills fell by 8.13% to settle at N2.26 per share

NPF Microfinance Bank dropped by 6.63 percent to settle at N1.55 per share, while Cutix lost 6.98 percent to close at N2.00.
With 3,323 transactions, the total volume of trades surged by 119.1% to 147.585 million units worth N2.394 billion. Guaranty Trust Holding Company (GTCO) share transactions, totaling 35.820 million shares valued at N693.693 million, topped the list of activities.

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