GTCO Raises N345.60m As NGX Dips N6.041bn
Guaranty Trust Holdings Company (GTCO) Plc closed the market activity chart of the Nigerian Exchange Limited (NGX) as the most valuable equity, raising N345.60 million from a total of 15.49 million shares.
The gain by GTCO however could not lift the the NGX which key indicator, the All-Share Index (ASI) lost 11.21 index points or 0.02 per cent to stand at 46,766.16 points from 46,777.37 points.
Also, the market capitalization which measures the value of all listed equities on the NGX declined by N6.041 billion, representing 0.02 per cent to close at N25.212 trillion down from N25.218 trillion.
The depreciation of the market was buoyed by the downward slide of medium and small scale companies like NPF Mico Finance Bank Plc, RTBriscoe Plc, Prestige Insurance Plc, Chams Plc and Niger Insurance Plc.
The market turnover rose 1.62 per cent, as investors bought and sold 261.59 million units of shares N2.43 billion in 4,668 deals compared to a total of 257.41 million units of shares worth N2.34 billion in 4,410 deals traded on the NGX on Tuesday.
The market breadth closed trading negative with 18 losers and 16 gainers aa against 20 decliners and 18 advancing stocks recorded in Tuesday.
The gainers’ table was led in percentage parameters by Coronation Insurance Plc, gaining 10 per cent to close at N0.33 per st share.
Livestock Feeds Plc rose 9.59 per cent to close at N1.60 per share, while Multiverse Plc appreciated 9.52 per cent to close at N0. 23 kobo per share.
Similarly, Meyer Plc and Linkage Assurance Plc jumped 9.30 per cent and 8.51 per cent to close at N0. 94 kobo abd N0.51 kobo per share respectively.
On the other hand, a Financial service company, NPF Mico Finance Bank Plc dominated the losers table in percentage terms, losing 9.78 per cent to close at N2.03 kobo per share.
In the same vein, RTBriscoe Plc declined 8.93 per cent to close at N0. 51 kobo per share, while Prestige Insurance Plc fell 8.16 per cent to close at N0. 45 kobo per share.
Likewise, Chams Plc and Niger Insurance Plc dipped 4.76 per cent to close at N0.20 kobo per share respectively.
With Zenith Bank Plc closing the market as the most valuable stock, Fidelity Bank Plc however, was the most active equity in terms of volume, trading a total of 81.74 million units of shares worth N281.1 million.
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