June 6, 2022Nigerian stocks climbed for the second trading day on Monday as the benchmark index jumped higher by 0.34 per cent with the lender FBN Holdings to thank.
Trade in the financial services group was unusually frenetic as 610.4 million units representing 81.per cent of total transaction volume exchanged hands with the pressure of the demand for them boosting gain.“We anticipate continued profit taking, we also expect investors to begin bargain hunting by cherry picking fundamentally sound stocks at a discount,” said analysts at investment bank United Capital in their forecast note for this week.
The all-share index rose by 178.2 points to at 53,086.5, while market capitalisation scaled up to N28.6 trillion.Conoil led gainers, appreciating by 9.97 per cent to close at N32. Pharma Deko grew by 9.37 per cent to end trade at N1.75. Learn Africa went up by 8.72 per cent to N2.37. FTN Cocoa rose to N0.36, notching up 5.88 per cent in the process. Sterling traded up 4.17 per cent to N0.25.Trans-Nationwide Express topped the losers’ chart, declining by 6.41 per cent to close at N0.73.
FBN Holdings was the most active stock with 610.4 million of its shares worth N6.8 billion traded in 163 deals.traded 23 million shares priced at N803.9 million in 121 transactions. WAPIC had 21.6 million shares valued at N8.8 million exchange hands in 52 deals. Transcorp traded 11.6 million shares estimated at N14.6 million in 93 transactions. Zenith traded 8.9 million shares valued at N208.9 million in 300 deals.
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