Fidelity Bank, others drive growth on NSE

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Fidelity Bank, others drive positive growth on Nigerian bourse in

By Chinyere Joel Nwokeoma

Low prices of equities in the financial services sector and improved third quarter results by some banks fuelled a robust performance of the Nigerian Stock Exchange (NSE) in October.

Data obtained by the News Agency of Nigeria (NAN) from the exchange in Lagos indicated that banking equities dominated the gainers’ table with Fidelity Bank emerging the best performing stock in percentage terms.

Specifically, Fidelity Bank during the period rose by 20 per cent to close at N2.04 per share against the opening price of N1.70.

Diamond Bank trailed with a growth of 19.49 per cent to close at N1.41, while Newrest ASL improved by 17.86 per cent to close at N6.60 per share.

Other top gainers’ are Cadbury, Forte Oil, Zenith Bank , Total , Mutual Benefits, Sterling Bank and UPL.

Conversely, Cutix emerged as worst performing stock in percentage terms with a loss of 50.49 per cent to close at…



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