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Market Cap Climbs to N130trn on Buy Interest in GTCO
Kayode Tokede
The Nigerian stock market opened the new week on a positive note with a gain of N209 billion as the overall capitalisation again crossed the N130 trillion mark on demand for Guaranty Trust Holding Company Plc (GTCO).
As GTCO advanced by 2.64per cent to close at N125.00 per share, the Nigerian Exchange Limited All Share Index (NGX ASI) gained by 324.21 basis points, or 0.16 per cent to close at 202,023.10 basis points, lifting the year-to-date return to 29.82 per cent.
Also, market capitalisation gained N209 billion to close at N130.015 trillion.
Market breadth was broadly negative, as 37 decliners outpaced 23 advancers. Trans-Nationwide Express recorded the highest price gain of 9.86 per cent to close at N3.12, per share. Omatek Venture followed with a gain of 9.76 per cent to close at N2.25, while Cadbury Nigeria rose by 9.53 per cent to close at N75.25, per share.
First HoldCo appreciated by 9.10 per cent to close at N54.55, while Fortis Global Insurance up by 6.50 per cent to close at N1.31, per share.
On the other hand, Ellah Lakes led the losers’ chart by 10 per cent to close at N10.80, per share. DAAR Communications followed with a decline of 9.95 per cent to close at N1.72, while Chams Holding Company declined by 9.87 per cent to close at N3.38, per share.
John Holt depreciated by 9.71 per cent to close at N13.95, while SUNU Assurance declined by 9.68 per cent to close at N4.20, per share.
Also, the total volume traded increased by 105.85 per cent to 1.153 billion units, valued at N40.281 billion, and exchanged in 78,006 deals. Transactions in the shares of Wema Bank topped the activity chart with 282.584 million shares valued at N7.291 billion. Access Holdings followed with 125.173 million shares worth N3.250 billion, while VFD Group traded 106.831 million shares valued at N1.127 billion.
First HoldCo traded 62.963 million shares valued at N3.186 billion, while GTCO sold 56.586 million shares worth N7.054 billion.
On market outlook, Futureview Group noted that “we expect investors to trade cautiously, focusing on fundamentally strong stocks with attractive valuations.”
