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    Wednesday, June 17

    First Holdco Sees Soft Rally Amidst Huge Block Trade

    Julius AlagbeBy Updated: News No Comments1 Min Read
    First Holdco Sees Soft Rally Amidst Huge Block Trade
    FIRSTHOLDCO

    First Holdco Sees Soft Rally Amidst Huge Block Trade

    First Holdco Plc market value increased in the equity market amidst significant trading volume executed by its shareholders. The soft rally came amidst block trade activities on the stocks.

    Several transactions involving 40 million shares were executed at ₦30.65 – ₦31.00 per share, amounting to a trade value of ₦1.24 billion on Wednesday, Anchoria Securities Limited told investors in a note.

    Market value of the financial services group climbed to N1.298 trillion as 41.109 million units of First Holdco valued at N1.422 billion were traded in the local bourse.

    The significant transactions on the stock were driven by buy-side investors, a recovery from previous trading sessions. A slew of equity analysts set higher price targets for First Holdco, with upside potential ahead of the third quarter earnings release.

    First Holdco has been trading behind its highest market value of N37.5 per share in 52 weeks. Trading at a significant discount to its 52-week high, a slew of stockbroking firms have rated the stock a buy—with higher upside potential. Banking, Insurance Sectors Drive NGX Index Higher by 29bps

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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