First Holdco Sheds 4%, Market Value Drops to N1.2trn
First Holdco Plc shed more than 4% of its market value in the equities market on Wednesday as investors ’exited positions in the oldest listed financial services company.
Reflecting weak sentiment, the share price of First Holdco fell by 4.01% on the day as trading data revealed that more than 12.759 million units valued at N364.1 million were traded in the Nigerian Exchange.
A slew of equity analysts said investors are already adjusting portfolios ahead of second-quarter earnings season.
Some stockbrokers think banks stock price movement will be influenced by the Central Bank of Nigeria’s (CBN) suspension of dividend payments for banks in breach of the single obligor limit and exposure to forbearance.
Amidst persistent fluctuations, First Holdco’s share price printed at N28.75, down by 4.01% from N29.95 at the beginning of the trading session. #First Holdco Sheds 4%, Market Value Drops to N1.2trn#
