There was a show of confidence in the newly appointed Group Chief Executive Officer of Access Holdings Plc, Ms Bolaji Agbede, as its shares attracted a 0.43 percent gain for investors.
On Monday, the shares of the Holding Company recorded a drop after the announcement of the death of the former Group CEO, Herbert Wigwe.
Access Holdings Company Limited which is listed on the Other Financial Institutions sector of the Nigeria Exchange Limited emerged as the only gainer among banking stocks on Tuesday as its shares closed at N23.3 per share, gaining 0.43 percent.
The Holding Company’s market capitalization rose to N828.2 billion with over 6 million shares exchanging hands in 470 deals.
FBN Holdings Plc which is also listed in the sector had its shares dropped -2.94 per cent to close at N24.75 per share.
Access Holdings Plc announced the appointment of Ms. Bolaji Agbede as the Acting Group Chief Executive Officer on Monday.
This followed the death of its former Group Chief Executive Officer, Herbert Wigwe.
In a notification to the Nigerian Exchange (NGX) Monday night, the company said the appointment of Ms. Agbede was subject to the approval of the Central Bank of Nigeria.
The company explained that until her appointment, Ms. Agbede was the company’s most senior founding Executive Director in charge of Business Support.
Agbede, who joined Access Bank in 2003 as an Assistant General Manager, has nearly three decades of professional experience cutting across banking and business consultancy services.
Meanwhile, the local bourse reversed some of the gains from previous session as the benchmark index lost 0.33 percent to close at 101,707.70 points.
Selloffs in Teir-1 banking names, ZENITHBANK (-3.79%) GTCO (-1.00%) and UBA (-4.77%) outweighed investors interest DANGSUGAR (+1.25%), ACCESSCORP (+0.43%) and UCAP (+3.63%) putting the market in the negative terrain. As a result, the year-to-date (YTD) return fell to 36.02%, as market capitalization shed N183.10 billion to close at N55.65 trillion.
Analysis of the day’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 16.09 percent.
A total of 263.19 billion shares valued at N4.30 billion were exchanged in 8,614 deals.
VERITASKAP (+9.59%) led the volume chart with 49.07 million units traded while UBA (-4.77%) led the value chart with deals worth N587.50 million.
Market breadth closed negative at a 1.22-to-1 ratio with declining issues outnumbering the advancing ones.
PZ (-9.87%) topped twenty-seven (27) others on the laggard’s table while HONYFLOUR (+9.92%) led twenty-two (22) others on the leader’s log.
