Fidelity Bank, Access Drive Momentum, Investors Gain N126bn
Buying interest in Fidelity Bank, Access Holdings, and some other risers drove momentum in the Nigerian stock market on Tuesday, pushing key performance indicators higher by 0.12%.
The Nigerian Exchange (NGX) All-share index rose by 12bps to reach 165,713.82 points, and market capitalisation climbed by N125.6 billion.
Stockbrokers reported that the outturn stemmed from renewed positive sentiments in INTBREW (+3.57%) and lenders—FIDELITYBK (+4.50%), ACCESSCORP (+2.04%) and STERLINGNG (+4.29%).
Market breadth was positive at 1.4x, with 34 advancing stocks surpassing 25 declining counters. SCOA (+9.94%) emerged as the top-performing ticker, while AUSTINLAZ (-9.96%) topped the laggards’ list.
Trading activity showed mixed results as share volume plunged 19.70% to 483.09 million units and deal count decreased 28.98% to 41,499 transactions, whereas transaction value increased marginally by 0.43% to ₦17.38 billion
ACCESSCORP topped the volume chart with 26.5 million units traded, which was 5.5% of total volume traded in the market while GTCO led in terms of value traded with trades worth N2.5 billion – 14.3% of total volume traded in the local bourse.
Four sectors closed in green, reflecting a bullish undertone in sectoral performance. The Insurance (+1.23%) index closed higher, driven by renewed interest in AIICO (+4.73%).
The Consumer Goods (+0.46%), Industrial Goods (+0.09%), and Oil and Gas (+0.02%) indices also posted gains, supported by buy interest in INTBREW (+3.57%), WAPCO (+0.64%), and JAPAULGOLD (+3.60%), respectively.
Conversely, the Banking (-0.11%) index declined amid sustained profit-taking in FIRSTHOLDCO (-3.98%). The Commodity Index closed flat.
The market witnessed another round of block transactions, fuelling total volume recorded across indices. Notable crosses included 200k SEPLAT at ₦6,800.0, 14.5m GTCO between ₦98.5 and ₦98.5, and 5.2m ZENITHBANK at ₦70.9. ARADEL, WAPCO, and ACCESSCORP recorded decent off-cross volumes. # Fidelity Bank, Access Plc Drive Momentum, NGX Index Rises Equity Analysts Raise Target Price for Guinness Nigeria
