Fidelity Bank, FCMB, Standard Trust lift equities turnover by 57.06%

Heavy trading on the shares of Fidelity Bank Plc, FCMB Group Plc and Standard Trust Assurance Plc , last week lifted total market turnover on the Nigerian Stock Exchange, NSE, by 57.06 per cent to 1.19 billion units of shares.

Specifically, the three companies accounted for 679.949 million units valued at N639.862 million in 1,622 deals. Fidelity Bank led in terms of volume traded, accounting for 475.576 million units worth N475.576 million in 1,166 deals, followed by FCMB Group with 104.282 million volume of shares worth N114.135 million executed in 452 deals, while Standard Trust Assurance pooled 100.322 million shares valued at N50.151 million in four deals.

The action drove the financial services sector to the fore as it emerged the most active in terms of volume traded. At the end of trading session last week, 1.014 billion shares valued at N3.070 billion were traded by investors in 6,700 deals.

The consumer goods sector followed on the activity chart with 51.888 million shares worth N1.581 billion in 2,025 deals, while the conglomerates sector placed third with a turnover of 47.517 million shares worth N66.904 million in 542 deals. – Vanguard.


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