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NSE trading floor

NSE trading floor

Rush for GTB shares helps lift value of Nigerian stocks

The benchmark index closed higher by 277.17 points at 39,493.37 points while market capitalisation closed at N20.663 trillion.

byRonald Adamolekun
March 29, 2021
Reading Time: 2 mins read
0

Nigerian stocks returned to the path of gain on Monday as an investor frenzy set in motion by increasing interest in big lender Guaranty Trust Bank (GTB) lifted equities by 0.71 per cent, wiping out Friday’s loss of N40 billion.

Interests in Nigeria’s biggest bank by market value have been heaping up since it announced a record dividend proposal of N3 10 days ago with Monday’s trade volume of 230.371 million units being the biggest in days.

MTN, WAPCO and Guinness also recorded notable appreciation, strengthening gains.

The banking index advanced most of the five sectorial indices tracked by the bourse, going up 2.06 per cent to 369.33 points.

The market breadth was positive, with 28 gainers emerging against 12 losers. The benchmark index closed higher by 277.17 points at 39,493.37 points while market capitalisation closed at N20.663 trillion, N145 billion from the value recorded on Friday.

Year to date, the index is down by 1.93 per cent.

TOP FIVE GAINERS

Courteville topped the gainers’ chart, appreciating by 10 per cent to close at N0.22 despite a slight profit drop for 2020 as shown in its earnings report issued on Monday. Custodian Investment added up 10 per cent to close at N6.60. Linkage Assurance went up by 9.80 per cent to N0.56. Caverton leapt to N2.07, notching up 9.50 per cent in the process. Jaiz Bank completed the top 5, climbing up by 8.47 per cent to N0.64.

TOP FIVE LOSERS

Cornerstone led losers, declining by 9.84 per cent to close at N0.55. Oando shed 6.06 per cent to end trade at N3.10. PZ Honeywell Flour fell to N1.18, losing 4.84 per cent. PZ slumped to N4.85, recording 3 per cent depreciation. FCMB closed at N2.90, trading down by 2.68 per cent.

TOP FIVE TRADES

In all, 522.175 million shares estimated at N10.651 billion were traded today in 4,566 deals.

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GTB led trade with 230.361 million units of its stocks worth N7.387 billion traded in 443 trades. 79.221 million units of Union Bank shares priced at N419.838 million exchanged hands in 57 transactions. Wema had 51.942 million shares valued at N31.703 million traded in 43 deals. Trnscorp traded 18.865 million shares estimated at N14.967 million in 82 transactions. Courteville traded 16.850 million shares valued at N3.707 million in 35 deals.

 

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