Fidelity Bank, Sterling Holdings, Mutual Benefits Lead NGX Activity Chart

By Dipo Olowookere

The trio of Fidelity Bank, Sterling Holdings, and Mutual Benefits led the activity chart of the Nigerian Exchange (NGX) Limited last week after accounting for 1.229 billion shares worth N15.942 billion in 7,796 deals, contributing 37.83 per cent and 6.70 per cent to the total trading volume and value, respectively.

In the week, investors transacted 3.249 billion shares worth N237.986 billion in 287,919 deals compared with the 3.647 billion shares valued at N130.151 billion traded in 244,777 deals a week earlier.

Financial stocks were the busiest in the five-day trading week, with 2.581 billion units sold for N97.212 billion in 138,900 deals, contributing 79.43 per cent and 40.85 per cent to the total trading volume and value, respectively.

Services equities followed with 131.102 million units worth N2.731 billion in 15,084 deals, and ICT shares traded 114.622 million units valued at N21.541 billion in 29,152 deals.

Business Post reports that 52 equities appreciated versus nine equities in the previous week, and 32 equities depreciated versus 80 equities in the preceding week, while 63 equities remained unchanged versus 58 equities a week earlier.

UPDC REIT gained 34.91 per cent to settle at N18.55, Sovereign Trust Insurance rose by 30.95 per cent to N2.20, Mutual Benefits appreciated by 22.03 per cent to N3.60, NGX Group grew by 21.55 per cent to N179.90, and First Holdco soared by 17.65 per cent to N160.00.

On the flip side, Transcorp Power lost 18.94 per cent to finish at N178.00, John Holt shed 18.89 per cent to close at N7.30, Ellah Lakes slumped by 18.14 per cent to N8.35, Livingtrust Mortgage Bank crashed by 17.46 per cent to N2.60, and Omatek dropped 12.41 per cent to quote at N1.20.

A look at the key performance indicators showed that the All-Share Index (ASI) went up by 2.78 per cent to 249,804.56 points, and the market capitalisation improved by 2.90 per cent to N162.157 trillion.

Similarly, all other indices finished higher except the growth index, which fell by 0.14 per cent.