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Stock Roundup: Sterling Bank, Fidelity Top Equities, As Investors Trade N12.92 billion Nigerian Stocks

2 years ago
1 min read

Market report from the Nigerian Exchange Limited (NGX) disclosed that over 1.195 billion shares exchanged investors hands in 19,305 deals, worth N12.924 billion, this week.

Investors increased their investment on the exchange floor when compared with the 914.443 million shares, valued at N15.263 billion, that were exchanged last week in 18,021 deals.

Top three sectors 

The Financial Services Industry is one of the top three sectors after five days of trading, as investors traded 1.017 billion of the industry’s shares, worth N5.685 billion, in 10,107 deals. 

ICT Industry also made the list, reporting 37.063 million shares worth N4.575 billion were exchanged in 1,996 deals. 

Completing the list is the Consumer Goods Industry, with a turnover of 35.184 million shares in 2,471 deals valued at N1.209 billion.

Top three equities 

By measure of volume, the top three equities are Sterling Bank Plc., Fidelity Bank Plc and Access Holdings Plc, as they accounted for 45.18% and 11.60% of the total equity turnover volume and value respectively. 

Sterling Bank, Fidelity Bank and Access Holdings recorded a combined 540.056 million shares worth N1.499 billion in 2,179 deals on their exchange floor.

Top five gainers

  • Vitafoam gained N3.30kobo, after its stock price appreciated from N20.30kobo to N23.60kobo per share.
  • E-Tranzact reported an uptick of N0.37kobo, as its share rose from N2.28kobo to N2.65kobo per share.
  • Fidelity Bank share went up by N0.34kobo, rising to N3.40kobo from N3.06 per share.
  • Guinness saw its share price gain N7.90kobo, increasing to N87.90kobo from N80 per share.
  • Nigerian Exchange Group recorded an appreciation of N1.95kobo, after the share went from N20.05 to N22 per share

Top five losers 

  • Unilever share depreciated by N1.30kobo, dwindling from N13.50kobo to N12.20kobo per share.
  • MCNichols share dropped in value by 9.46 percent, to settle at N0.67kobo from N0.74kobo per share.
  • CWG followed the same path, losing 9.09 percent after trading hours, to sell at N0.90kobo from N0.99kobo per share.
  • John Holt reported a decline of 8.99 percent in its share, depreciating from N0.89kobo to N0.81kobo per share.
  • RT Briscoe share lost 8.57 percent from previous day’s N0.35kobo, dropping to N0.32kobo per share.


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Fidelity Bank supports Temile Development Company to boost Nigeria’s Gas Revenues In what has been termed a significant milestone in the advancement of Nigeria's domestic gas industry and the generation of gas revenues, Temile Development Company Ltd -a key indigenous player in the oil and gas industry- recently commissioned a 23,000 cubic meters ultramodern Liquefied Petroleum Gas (LPG) Carrier. Named ‘Alfred Temile 10’, the vessel was part-financed by leading Nigerian bank -Fidelity Bank Plc- and was commissioned at the Hyundai Mipo Dockyard in Ulsan, South Korea. Dignitaries at the event included the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd (NNPC), Mallam Mele Kyari,OFR; Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe,OON; Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe Luke Ekpo; the Charge D’Affairs Ad Interim of the Embassy of Nigeria in South Korea, Ambassador Ferdinand Nwonye; Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe; amongst others. Commending the company on the laudable development, Mallam Mele Kyari said, “I want to congratulate Mr. Alfred for the great feat you have achieved on behalf of our country and we understand that today clean energy is everything because the whole world is transiting to cleaner fuel. In our country, biomass is the major source of energy, and I know that the efforts we are making collectively and with this effort by Temile Group will enhance that ability to produce cleaner energy in our country.” On her own part, Dr Nneka Onyeali-Ikpe,OON said, “This commissioning is a landmark achievement for Nigeria as the vessel would further support the nation’s drive to utilize cleaner energy sources especially as the world transitions to environmental-friendly energy options. Fidelity Bank is delighted to facilitate this transaction and we congratulate our amiable customer -Mr. Alfred Temile- as well as the good people of Nigeria on this feat.” It was noted that this was the second of its kind being part-financed by the Bank and further underscores its support for the industry. An elated Mr. Alfred Temile, the CEO of Temile Development Company, expressed heartfelt appreciation for the collaboration and strong support received from NNPC Ltd and other stakeholders throughout the project's journey. The vessel will bolster the local participation of indigenous maritime players, improve the logistics of LPG supply and increase the availability of LPG for the Nigerian last-mile users. This will contribute to the growth of Nigeria’s domestic gas industry while demonstrating the dedication and increasing capabilities of indigenous Nigerian companies in the oil and gas sector. It will be recalled that Fidelity Bank Plc also part-financed the development of the recently launched Pinnacle Oil and Gas Terminal in Lagos as part of efforts to improve energy security in the country. Ranked as one of the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank with over 8 million customers serviced across its 251 business offices in Nigeria and the United Kingdom as well as on digital banking channels. The bank has won multiple local and international awards including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards; Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023; and Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

Fidelity Bank Supports Temile Development Company To Boost Nigeria’s Gas Revenues

Temile Development Company Ltd, a key indigenous player