Access Holdings Spikes by 10% as Investors Begin Hunting
Access Holdings Plc recorded positive daily price movement of about 10% on the Nigerian Exchange (NGX) over renewed buying interest on the banking stock. Investors have started to hunt for growth and value stocks in the equities market amidst the third quarter earnings festival, and more positions have been seen on banking names.
Data from the local bourse revealed that Ticker: ACCESSCORP accounted for 7.59% of the total volume of shares traded in the equities market on Thursday. Trading records from the domestic bourse showed that the holdings company share price rose by 9.95% to N22.1 from N20.1 due to activities of value hunters trading highs and the lows on the Nigerian Exchange.
Shares volume traded this week have been relatively strong but with minimal price movement until today as bulls overshadowed bearish activities. At the current market price, Access Holdings plc market value has increased to about N786 billion.
In September, the group board of directors declared a close period as the board directors planned to meet on October 30 to consider the group unaudited financial statement for the third quarter of 2024.
The close period wherein insiders would not be allowed to trade the company’s shares started Oct 1, and ended 24 hours after the third quarter of 2024 financial scorecard has been released. At the current market price, Access Holdings Plc is trading at more than 28% discount to 52 week high. # Access Holdings Spikes by 10% as Investors Begin Hunting Benchmark Yield Steady as Traders Boycott Bonds Market
