Fidelity Bank records single-day turnover volume of over 600 million shares
In terms of turnover value, Fidelity Bank recorded a turnover of N6.025 billion, while Access Holdings reported a turnover of N1.744 billion.
Fidelity Bank was the most traded stock on the NGX today, with a turnover volume of about 605.257 million shares, while the stock gained 6.52% to close at N9.80.
Since announcing its public offering and rights issue program, the bank’s stock has seen significant market activity. For the week ending June 7, 2024, it emerged as the top-traded stock, with a turnover volume of 229.613 million shares.
Overall, the NGX surged by 0.53%, closing at 99,793.71, as the All-Share Index inches closer to the 100,000 mark. The market capitalization also closed at N 56.452 trillion, as equities gained N324 billion.
There was a 22% increase in market activity, as the number of deals hit 8,657, from 7,106 as of the previous trading session.
In terms of trading volume, there was a 148% increase as the turnover volume hit 963.541 million shares, from last Friday’s 388.016 million shares.
Market Highlights
The market’s bullish performance was driven by gains recorded by Access Holdings, which gained 9.86%, with its market capitalization appreciating by N60.4 billion.
However, FMN was the top gainer during the day with a 10% gain to close at N41.80. TotalEnergies Marketing gained 9.98%, while Chams Holding Company gained 9.74% and Veritas Kapital Assurance continued its bullish run, with a 9.52% gain. Julius Berger also recorded a 9.15% gain to close at N89.50.
The market breadth was positive as there were 30 gainers compared to 10 losers during the day.
The top loser in the market was eTranzact International, which lost 9.90%, followed by Daar Communications, with a 9.52% loss. Champions Breweries and Unity Bank lost 6.67% respectively, Wapic Insurance lost 2.86% and Lafarge WAPCO lost 2.22%.
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.
