<h4>Fidelity Bank Leads</h4>
<p><strong><a href="https://openlife.ng/">OpenLife Nigeria</a></strong> reports that Fidelity Bank Plc was the most active stock on Monday, 10 June 2024 at the Nigerian stock market as a strong positive sentiment led Nigerian equities to a net capital gain of N324 billion in the first trading session of the week.</p>
<p>The market opened with widespread positive sentiment as investors sought to lock into value stocks in the high-end sectors of oil and gas, construction and manufacturing.</p>
<p>With three gainers for every loser, the market closed with average return of 0.58 per cent, equivalent to net capital gain of N324 billion.</p>
<p>The momentum of activities also improved considerably as total turnover rose by 148.33 per cent to 963.541 million shares valued at N13.498 billion in 8,657 deals. <a href="https://openlife.ng/">Fidelity Bank</a> topped the activity chart with 605.257 million shares valued at N6.025 billion.</p>
<p>Fidelity Bank&#8217;s activities appeared to be driven by buy sentiment as the stock closed within the top 15 gainers with a gain of 6.52 per cent to close at N9.80 per share.</p>
<p>The All Share Index (ASI)- the common value-based index that tracks all share prices at the Nigerian Exchange (NGX), rose by 0.58 per cent to close at 99,793.71 points as against its opening index of 99,221.14 points.</p>
<p>Aggregate market value of all quoted equities also increased simultaneously from its opening value of N56.128 trillion to close at N56.452 trillion.</p>
<p>Other most active stocks included <a href="https://openlife.ng/">Access Holdings</a>, which recorded turnover of 93.067 million shares worth N1.744 billion. <a href="https://openlife.ng/">United Bank for Africa (UBA</a>) traded 58.726 million shares valued at N1.261 billion. <a href="https://openlife.ng/">Nigerian Breweries</a> traded 45.256 million shares valued at N1.267 billion while <a href="https://openlife.ng/">Zenith Bank</a> traded 16.079 million shares worth N539.552 million.</p>
<p>Analysts at <a href="https://www.vanguardngr.com/">Futureview Financial Services</a> said they anticipated a mixed sentiment in the equities market, primarily due to the enduring allure of the fixed income market among investors.</p>
<p><em><strong>&#8220;This interest is fueled by expectations of increased rates in the Nigerian Treasury Bill (NTB) auction and the impending release of the inflation rate.</strong></em></p>
<p><em><strong>&#8220;However, amidst these factors, there remains an opportunity for sustainable growth, particularly in fundamentally strong stocks that currently find themselves in the oversold region. </strong></em></p>
<p><em><strong>&#8220;We foresee a selective pursuit of bargains, particularly in dividend-paying stocks, driven by the nearing corporate qualification and payment,&#8221;</strong></em> Futureview stated.</p>
<figure id="attachment_24784" aria-describedby="caption-attachment-24784" style="width: 254px" class="wp-caption alignnone"><img class="size-medium wp-image-24784" src="https://openlife.ng/wp-content/uploads/2024/04/Fidelity-Bank-MD-Mrs-Nneka-Onyeali-Ikpe-1-254x300.jpg" alt="Fidelity Bank Leads Trading As Equities Gain N324b" width="254" height="300" /><figcaption id="caption-attachment-24784" class="wp-caption-text"><em><strong>Managing Director, Fidelity Bank Plc, Nneka Onyeali-Ikpe</strong></em></figcaption></figure>
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