Access Holdings Climbs after Huge Block Trade
Access Holdings Plc is trading positively on Wednesday in the equities segment of the Nigerian Exchange after block trade. Ticker: ACCESSCORP has picked up by 19 basis points during early trading hours on Wednesday as more than 11 million shares valued at about N291 million exchange hands.
The transaction of Access Holdings Plc shares bolstered trading activities on the Nigerian Exchange on Tuesday, up by 9.85% on the day. The surge was aided by a block trade of 11 million shares in Access Plc, priced at N25.65 per unit.
Block trade negotiated between private investors led to an unusual volume transaction conducted in the equities market yesterday. About 37 million shares of Access Holdings Plc exchanged hands in the market yesterday, recording a moderate price decline.
Attractive market valuation and expectations that the financial services group would deliver on its earnings guidance for financial year 2024 continue to fuel demand. Like locals, foreign investors have also been taking position in Access Holdings, ramping up shares ahead of earnings, and final dividend.
Stocbrokers explained that block trades are negotiated between institutional investors with the aim to stem significant price fluctuation. # Access Holdings Climbs after Huge Block Trade Oil Prices Increase amidst Shipping Routes Threats
