Nigeria: FCMB, Transcorp, FirstBank dominate trades as bearish trend continues

Oct 08, 2019

The Nigerian Stock exchange continues its bearish trend in the first trade of the week. The All Share Index (ASI) closed at 26,866.41 basis points, down by 0.45%. On a year to date basis, the ASI is down by 14.52%.

The market witnessed 151.7 million shares valued at N1.5 trillion traded in 2,854 deals. Top 5 deals for the day were FCMB, Transcorp, FBN Holdings, Access Bank, and Zenith Bank.

55.6 million shares of FCMB valued at N89 million were traded in 83 deals. FCMB informed the market and the investing public that it won’t be able to release its Q3 2019 consolidated results as at when due.

Transcorp followed with 17 million shares valued at N17.2 million traded in 69 deals. FBN Holdings – the parent company of tier-1 lender, FirstBank – traded 14.39 million shares valued at N76.2 million in 160 deals. 7.35 million shares of Access Bank valued at N52.35 million traded in 209 deals. Zenith Bank ends the top 5 trades by volume with 6.8 million shares valued at N123.5 million traded in 341 deals.

Top 5 gainers

Courtville led the gainers’ bandwagon with a 10% gain to close at N0.22. Africa Prudential followed with a 9.94% gain to close at N3.87. ABC Transport Closed at N0.37, gaining 8.82%. Wema Bank gained 8.62% to close at N0.63. UAC Nigeria rounds up the top 5 gainers with a 8.40% gain to close at N7.10.

Top 5 losers

Cornerstone Insurance took the biggest hit with a 10% loss and closing at N0.36. Seplat was next with a 6.85% loss to close at N517. Cadbury closed at N9.85, losing 5.74%.

Caverton lost 5.38% to close at N2.46. Oando rounds up the top 5 losers with a 2.7% loss, closing at N3.60.

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