Record Trading Activity on NGX Fueled by Fidelity Bank’s Public Offer

By Jemimah Wellington, JKNMedia Reporter

WITH A staggering turnover of approximately 605.257 million shares, Fidelity Bank has emerged as the most actively traded stock on the Nigerian Exchange (NGX).

On Monday, June 10, 2024, the bank’s stock witnessed a significant surge, appreciating by 6.52% to close at N9.80.

Also, the bank’s recent market activity has been buoyed by its public offer and rights issue programme, sparking investor interest.

For the week ending June 7, 2024, the bank also topped the trading charts, recording a turnover of 229.613 million shares.

Following Fidelity Bank, Access Holdings saw the second-highest trading volume with 93.067 million shares changing hands. UBA followed with a turnover of 58.726 million shares and a price increase of 2.86%.

Nigerian Breweries also performed well, trading 45.256 million shares and recording a 2.38% gain. Zenith Bank posted a turnover of 16.079 million shares with a 4.66% increase in its share price.

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

For stocks valued over one trillion-naira, trading sentiment remained generally positive, though most saw no price changes.

GTCO Holdings posted a slight gain of 0.13%, while Zenith Bank increased by 4.66%. Other major players in this category, including Airtel Africa, BUA Cement, BUA Foods, MTN Nigeria, Geregu Power, Transcorp Power, Seplat Energy, and Dangote Cement, remained unchanged.

The top-tier banking stocks showed robust performance across the board. UBA, GTCO, Access Holdings, and Zenith Bank recorded gains of 2.86%, 0.13%, 9.86%, and 4.66%, respectively. Conversely, FBNH’s stock price remained static.

Collectively, the FUGAZ stocks, which comprise some of the leading banks, reported a total turnover volume of 181.488 million shares, highlighting strong investor activity in the financial sector.

At JKNewsMedia, our dedication to delivering reliable news and insightful information to our cherished readers remains unwavering. Every day, we strive to provide you with top-notch content that informs and enlightens. By donating to JKNewsMedia, you directly contribute to our mission of delivering quality journalism that empowers and informs. Your support fuels our commitment to bringing you the latest updates and in-depth analysis. Let's continue to uphold the highest standards of journalism and serve our community with integrity and dedication. Thank you for being a part of the JKNewsMedia family and for your ongoing support.

2 thoughts on “Record Trading Activity on NGX Fueled by Fidelity Bank’s Public Offer

Leave a Reply

Your email address will not be published. Required fields are marked *