Fidelity Bank Plc emerged the most active stock on the Nigerian Stock Exchange (NSE) for the month of July 2007. The bank which is currently warming up to commence its public offering accounted for 18.2 per cent of the total market turnover for the month under review with the trading of 2.28 billion shares. Wema Bank Plc with a turnover of 1.09 billion shares while Skye Bank Plc recorded 624.95 million shares.

Other highly patronised stock include: United Bank for Africa Plc 535.60 million shares, Lasaco Assurance Plc 369.91 million shares, Union Bank of Nigeria Plc 347.88 million shares, Continental Reinsurance Plc 345.28 million shares, Sterling Bank Plc 323.02 million shares, Access Bank Nigeria Plc 307.88 million shares, Mutual Benefits Assurance Plc 303.82 million shares among others.

Equity trading for the month under review dipped by 7.4 per cent as a turnover of 12.53 billion shares valued at N202.5 billion was recorded in 247,087 deals as against June’s turnover of 13.53 billion shares valued at N194.73 billion in 247,230 deals. The Banking sub-sector dominated the other sectors, accounting for 61.63 per cent of the market turnover, followed by the Insurance sub-sector accounting for 23.65 per cent of the market turnover.

Zenith Bank Plc remained the most capitalised stock for the month with a market capitalisation of N617.73 billion, First Bank of Nigeria Plc followed with a capitalisation of N533.94 billion and United Bank for Africa Plc recorded N482.48 billion.

Other highly capitalised stock include: GT Bank Plc N457.05 billion, Union Bank of Nigeria Plc N444.76 billion, Dangote Sugar Refinery Plc N375.0 billion, Nigerian Breweries Plc N325.11 billion, Oceanic Bank International Plc N314.33 billion, Intercontinental Bank Plc N278.74 billion, Ecobank Transnational Incorporated N233.33 billion, Ecobank Nigeria Plc N212.21 billion, Fidelity Bank Plc N197.4 billion, West African Portland Cement Company Plc N190.60 billion, Platinum Habib Bank Plc N189.51 billion, Transnational Corporation of Nigeria Plc N180.16 billion among others.

The market capitalisation of listed equities appreciated by 7.0 per cent to close at N9.46 trillion while the All-share index which opened at 51,330.46 points rose by 3.29 per cent to close at 53,021.68 points.
Mobil Oil Nigeria Plc recorded the highest share price appreciation, rising by N18.00 to close at N180.00 per share from N162.00 per share at which it opened, followed by Nigerian Bottling Company Plc with a gain of N16.48 to close at N50.00 per share while Afribank Nigeria Plc garnered N11.17 to close at N22.68 per share. Other share price gainers include: First Bank of Nigeria Plc N11.14, Chevron Oil Nigeria Plc N10.02, United Bank for Africa Plc N6.80 among others.

On the contrary, Ashaka Cement Plc recorded the highest share price loss for the month under review, dropping by N22.25 per share to close at N51.45 per share from N74.00 per share at which it opened, followed by Nigeria Energy Sector Fund Plc with a loss of N13.77 to close at N741.23 per unit and Guinness Nigeria Plc dipped by 9.05 to close at N117.50 per share. Other share price losers include: Total Nigeria Plc N8.19, National Salt Company of Nigeria Plc N6.78, Nigerian Aviation Handling Company Plc N6.57 among others.