Fidelity Bank was the most traded stock on the NGX on Monday, with a trading volume of about 605.257 million shares, despite a 6.52% rise to settle at N9.80.
Considerable market activity has been observed in the bank’s stock since the announcement of its rights issuance and public offering. With a transaction volume of 229.613 million shares, it was the most traded stock for the week ending June 7, 2024.
The NGX closed at 99,793.71, up 0.53% overall, while the All-Share Index is getting closer to 100,000. With equities up N324 billion, the market capitalization concluded at N 56.452 trillion as well.
Market activity increased by 22% as there were 8,657 deals during the previous trading session, up from 7,106.
From last Friday’s turnover level of 388.016 million shares to today’s trading volume of 963.541 million shares, there was a 148% rise in volume.
Market Standouts
With its market value increasing by N60.4 billion, Access Holdings saw gains of 9.86%, which propelled the market’s optimistic performance.
With a 10% increase to close at N41.80, FMN was the day’s biggest gainer, nevertheless. While Chams Holding Company earned 9.74% and Veritas Kapital Assurance extended its bull run with a 9.52% gain, TotalEnergies Marketing gained 9.98%. In addition, Julius Berger closed at N89.50 with a gain of 9.15%.
Throughout the day, there were 30 gainers and 10 losers, indicating a good market breadth.
eTranzact International lost 9.90% of its value, making it the biggest loser in the market. Daar Communications lost 9.52%. Wapic Insurance dropped 2.86%, Lafarge WAPCO lost 2.22%, and Champions Breweries and Unity Bank lost 6.67% and 2.22%, respectively.
With 93.067 million shares, Access Holdings recorded the biggest market turnover volume behind Fidelity Bank. UBA came in second with a trading volume of 58.726 million shares and a gain of 2.86%.
Zenith Bank reported a 4.66% gain on a turnover volume of 16.079 million shares, while Nigerian Breweries registered a 2.38% gain on a turnover volume of 45.256 million shares.
Fidelity Bank reported a turnover value of N6.025 billion, while Access Holdings reported a turnover value of N1.744 billion. Nigerian Breweries reported N1.27 billion, UBA N1.26 billion, and Stanbic IBTC N572.92 million, indicating a 0.57% growth in turnover.
