• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Saturday, July 26, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

NGX investors react, Access Holdings loses 6.26% after death of CEO

NGX

The Matters Press by The Matters Press
February 13, 2024
Reading Time: 2 mins read
0
NGX, stakeholders set to unfold opportunities in ETFs market

Lagos, Feb. 14, 2024: Investors on the stock market of the Nigerian Exchange Ltd. (NGX) on Monday reacted to the death of Dr Herbert Wigwe, Group Chief Executive Officer (Group CEO), Access Holdings, reducing the company’s share price.

RELATED POSTS

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

Wigwe, his wife, son and Mr Abimbola Ogunbanjo, former Chairman of NGX Group died on Friday in a helicopter crash in Southern California, U.S.

Specifically, shares of Access Holdings, which opened at N24.75 per share, lost 6.26 per cent to close at N23.20 per share.

However, the corporation led the activity chart in volume with 24.90 million shares traded at N575.10 million.

In a reaction, Mr David Adonri, Vice Chairman, Highcap Securities Ltd., said that the capital market is information driven.

According to him, the news of the death of Wigwe is a price sensitive event capable of affecting price on the equity.

Adonri said, Wigwe, who was a big weight in Access Holdings and the Nigerian economy, affected investors trading decision on the stock of the holding.
He explained that investors reacted negatively to Wigwe’s death by reducing their stock on the market.

“However, in my own opinion, there is no cause for alarm because Access Holdings is well structured with good corporate governance and security on ground,” he said.

Meanwhile, the local bourse opened the week with gains , as the All-Share Index closed 0.18 per cent or 183.95 points higher to close at 102,042.32 points, compared to 101,858.37 recorded on Friday.

Similarly, market capitalisation, which opened at N55.735 trillion, gained N101 billion to close at N55.836 trillion.

Consequently, the Year-To-Date (YTD) return rose to 36.47 per cent.

Investors buy interests in BUA Foods, Geregu and Zenith Bank drove the market to a positive terrain.

A total of 242.43 billlion shares valued at N5.13 billion were exchanged in 8,715 deals, compared to 321.89 million shares valued at N7.35 billion in 8,925 deals posted on Friday.

While Access Corporation led the activity log, Veritas Kapital Assurance followed with 24.20 million shares worth N17.45 million per share.

GTCO sold 21.17 million shares worth N841.25 million to lead the log in deals and First Bank Nigeria Holdings(FBNH) traded 17.23 million shares valued at N439.39 million per share.

Also, Transcorp transacted 17.08 million shares worth N229.22 million per share.

On the gainers’ log, NCR Nigeria Plc, Chams and Royal Exchange Assurance led in percentage terms of 10 each to close at N4.40, N2.75 and 77k per share, respectively.

SUNU Assurances followed by 9.50 per cent to close at N1.96 and The Initiative Plc (TIP) gained 9.43 per cent to close at N2.32 per share.
Conversely, Infinity led the losers’ log by 9.90 per cent to close at N7.19 per share.

John Holt trailed closely by 9.88 per cent to close at N2.19, while PZ Cussons lost 9.87 per cent to close at N27.85 per share.

May and Baker Nigeria Plc also lost 9.80 per cent N6.35, and Deap Capital Management and Trust Services shed 7.14 per cent to close at 65k per share.

Analysis of the market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 30.31 per cent.

Market breadth closed positive with 30 advancing stocks and 23 declining ones.

Tags: NGX
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

POLICY STATEMENT 027 BY THE INDEPENDENT MEDIA AND POLICY INITIATIVE (IMPI)
Economy/Technology

Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight

July 25, 2025
Dangote Fertilizer in gas supply deal
Economy/Technology

IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎

July 25, 2025
Nigeria’s Dangote refinery will cut Africa’s petrol import by 36%
Economy/Technology

‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

July 25, 2025
Nigerian firms to handle $4b gas project
Economy/Technology

ADC’s claim on refinery sale, horrendous half truth

July 23, 2025
Tinubu inaugurates economic council
Energy

‎No political undertone in Tinubu’s befitting honour for Buhari, TDF ‎

July 23, 2025
Babangida Aliyu’s Exit from ADC, a testament to Coalition’s deceitful recruitment- Group
Economy/Technology

‎Stop scapegoating Tinubu, stick to ethics of internal democracy, Group tells ADC ‎

July 20, 2025
Next Post
World Bank hits Nigeria on fuel subsidies, taxes on sinful goods

Kano traders pledge to reduce, stabilise prices of goods to curtail hardship

Onne port Customs generates N242b in 2022

Operational challenges at ports worry NARTO

Recommended Stories

22 African nations in debt crisis

Non-interest financing, equity, solutions to huge debt crisis – FG

December 7, 2023
CIIN president tasks Insurance directors on manpower development

Insurance firm re-launches 4 retail products

May 13, 2023
Coker solicits PPP to develop tourism

Nigeria’s Creative and Tourism Infrastructure Corporation to fastrack march to a $1trn economy

February 14, 2025

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Alleged Wasteful Turn Around Maintenance (TAM) of Refineries: Setting the records straight
  • IMPI seeks forensic audit of refineries from 2000 to 2023 ‎ ‎
  • ‎ADC erred, APC administrations never spent $18bn on refineries-IMPI ‎

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us