
FBNH Gain Pushes Banking Index, Outperforms NGX
FBN Holdings (Ticker: FBNH) share gained 4%, outperforming the Nigerian Exchange (NGX) equities index which popped by 3.3% as the Tier-1 lender become a popular investment window in the local bourse in the past seven trading sessions.
For shareholders seeking alpha, it is a good start to the year. Over the last 7 days, the stock market gained 3.3%, driven by gains in the Communication Services and Materials sectors of 6.9% and 3.3%, respectively.
Trading data show that the banking sector Index rose 3.5% as equities investors continue to hunt for growth, value stocks. It is all about solid fundamentals, equity analysts in addition to positive market sentiments – both are currently present, analysts said.
Market analysts hope to see a healthy performance in the first half of 2023 as...