June 24, 2024

#Fidelity Bank Captures Market Spotlight with N6.025Bn Turnover on 600 Million Shares

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#Fidelity Bank Captures Market Spotlight with N6.025Bn Turnover on 600 Million Shares

#Fidelity Bank Captures Market Spotlight with N6.025Bn Turnover on 600 Million Shares

Fidelity Bank made headlines as the most actively traded stock on the NGX, boasting an unprecedented turnover volume of approximately 605.257 million shares and closing with a 6.52% gain at N9.80.

This surge in trading activity follows the bank’s announcement of a public offer and rights issue program, catapulting it to the top of the weekly traded stocks with a volume of 229.613 million shares.

The bank’s financial dynamism was further underscored by a staggering N6.025 billion turnover value, outperforming other market contenders and solidifying its position as a powerhouse in the Nigerian financial market.

After Fidelity Bank, Access Holdings recorded the highest turnover volume in the market with 93.067 million shares. It was followed by UBA, which recorded a 2.86% gain and a turnover volume of 58.726 million shares.

Nigerian Breweries which posted a 2.38% posted a turnover volume of 45.256 million shares, and Zenith Bank with a 4.66% gain posted a turnover volume of 16.079 million shares.

In terms of turnover value, Fidelity Bank posted a N6.025 billion turnover value, while Access Holdings posted a turnover value of N1.744 billion. Nigerian Breweries recorded N1.27 billion, UBA – N1.26 billion, and Stanbic IBTC posted a turnover value of N572.92 million with a 0.57% gain.

For stocks worth over one trillion, trading sentiment was quite positive, however, eight out of the ten stocks were left unchanged. GTCO Holdings posted a 0.13% and Zenith Bank posted a 4.66% gain.

Other members of the category, Airtel Africa, BUA Cement, BUA Foods, MTN Nigeria, Geregu Power, Transcorp Power, Seplat Energy, and Dangote Cement posted no price changes.

The top-tier banking stocks recorded gains all-round, as UBA, GTCO, Access Holdings, and Zenith Bank posted 2.86%, 0.13%, 9.86%, and 4.66% gains respectively. However, FBNH recorded no price change.

The FUGAZ stocks recorded a turnover volume of 181.488 million shares.

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