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Tag: FBN Holdings

Renewed bargain-hunting pushes index by 0.31 per cent

Renewed bargain-hunting pushes index by 0.31 per cent

Business
The Nigerian equities market rebounded yesterday, occasioned by bargain-hunting in most blue-chip stocks, causing the All-Share Index (ASI), to advance by 0.31 per cent. Precisely, the ASI rose by 80.55 absolute points, representing a growth of 0.31 per cent to close at 25,654.90 points. Similarly, the overall market capitalisation gained N43 billion to close at N13.408 trillion. The upturn was impacted by gains recorded in large and medium capital stocks, including MTNN, Red Star Express, FBN Holdings (FBNH), Dangote Sugar Refinery, and Trans-Nationwide Express. Analysts at Afrinvest Limited expect bargain-hunting to persist in the market. Market sentiment, as measured by the market breadth, was negative, as nine stocks gained relative to 17 losers. Red Star Express recorded the...
Bellwethers lift NSE’s index further by 0.77 per cent

Bellwethers lift NSE’s index further by 0.77 per cent

Business
Following sustained interest in most high cap stocks, transactions on the equities sector of the Nigerian Stock Exchange (NSE), continued in an upbeat yesterday, causing the All-Share Index (ASI) to rise further by 0.77 per cent. At Thursday trading, the ASI increased by 183.48 absolute points or 0.77 per cent to close at 23,892.92 points. Also, the overall market capitalisation gained N85billion to close at N12.441trillion. The uptrend was impacted by gains recorded in large and medium capitalised stocks, amongst which are; Nestle Nigeria, Dangote Cement, Guaranty Trust Bank, Zenith Bank and Fidson Healthcare. Analysts at Afrinvest Limited, said: “We expect the domestic equities market to close the week on a bearish note.” Similarly, Vetiva Capital said: “In th...