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Equities gain N324bn, Fidelity Bank leads trading

Fidelity Bank Plc

Fidelity Bank Plc was the most active stock on Monday at the stock market.

This is sequel to a strong positive sentiment which led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week.

Trading opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors of oil and gas, construction and manufacturing.

With three gainers for every loser, the market closed with average return of 0.58 per cent, equivalent to net capital gain of N324 billion.

Turnover rose by 148.33 per cent to 963.541 million shares valued at N13.498 billion in 8,657 deals as momentum improved.

Fidelity Bank topped with 605.257 million shares valued at N6.025 billion. Its activities appeared to be driven by buy sentiment as the stock closed within the top 15 gainers with a gain of 6.52 per cent to close at N9.80 per share.

The All Share Index (ASI)- the common value-based index that tracks all share prices at the Nigerian Exchange (NGX), rose by 0.58 per cent to close at 99,793.71 points as against its opening index of 99,221.14 points.

Aggregate market value of all quoted equities also increased simultaneously from its opening value of N56.128 trillion to close at N56.452 trillion.

Other most active stocks included Access Holdings, which recorded turnover of 93.067 million shares worth N1.744 billion. United Bank for Africa (UBA) traded 58.726 million shares valued at N1.261 billion.

Nigerian Breweries traded 45.256 million shares valued at N1.267 billion while Zenith Bank traded 16.079 million shares worth N539.552 million.

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