Fidelity Bank Accounts for 34% of NGX Trading Volume With 335 Million Shares

Fidelity Bank Plc accounted for more than one-third of total trading volume on the Nigerian Exchange (NGX) on Thursday after investors exchanged 335.20 million shares in the lender.

The transactions were valued at approximately N6.91 billion, making Fidelity Bank the most actively traded equity by volume during the session.

The bank’s 335.20 million shares represented approximately 34.3 percent of the 978.29 million shares exchanged across the equities market during the day.

This means roughly one out of every three shares traded on the NGX on Thursday was Fidelity Bank stock.

Fidelity Bank’s trading volume was also significantly ahead of other actively traded equities during the session.

VFD Group ranked second with 122.06 million shares worth N1.40 billion, while Transnational Corporation recorded 65.94 million shares valued at N2.44 billion.

Access Holdings followed with 43.72 million shares worth N1.33 billion, while Chams Holding Company recorded 42.60 million shares valued at N139.90 million.

Combined, the five most actively traded equities accounted for approximately 609.51 million shares, representing about 62.3 percent of total market volume.

Fidelity Bank alone accounted for more shares than VFD Group, Transcorp, Access Holdings and Chams combined.

Those four companies recorded approximately 274.31 million shares, about 60.89 million shares below Fidelity Bank’s 335.20 million shares.

The heavy activity in Fidelity Bank came as overall NGX trading volume moderated from the unusually elevated level recorded in the previous session.

Total volume declined approximately 38.5 percent from 1.59 billion shares on Wednesday to 978.29 million shares on Thursday.

Despite the decline in volume, the value of transactions increased from N45.82 billion to N50.16 billion, representing growth of approximately 9.5 percent.

The number of deals declined from 49,836 to 48,558.

The broader equities market also extended its advance, with the NGX All-Share Index rising 0.38 percent to 252,150.01 points from 251,191.02 points.

Equity market capitalisation increased by approximately N623 billion to N163.68 trillion, from N163.06 trillion in the previous session.

Fidelity Bank’s 335.20 million shares therefore placed the lender firmly at the centre of Thursday’s trading activity, accounting for approximately 34 percent of all shares exchanged on the Nigerian Exchange.