Market Report: GTCO Leads in Trading Volume, Market Value Declines by 13.81%”

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In today’s trading session, the financial markets witnessed dynamic movements, with Guaranty Trust Bank (GTCO) emerging as the frontrunner in trading volume, transacting a significant 84.65 million units. Following closely behind was ACCESSCORP, with 68.89 million units traded. Notable stocks such as UBA, ZENITHBANK, and TRANSCORP also contributed to the trading volume, exchanging 65.49 million, 62.59 million, and 27.43 million units, respectively.

 

 

However, despite the active trading, the market experienced a marked decrease in market value, with a 13.81% decline, equivalent to a substantial N2.34 billion drop. This led to the session’s closure at N14.61 billion, down from N16.95 billion in the prior session. GTCO played a significant role in this decrease, with shares totaling N4.48 billion, followed by ZENITHBANK at N2.77 billion, UBA at N1.83 billion, ACCESSCORP at N1.73 billion, and FBNH at N622.77 million.

 

 

In the SWOOT sector, performance varied, with GTCO and Zenith Bank witnessing a rise in stock values by 1.05% and 0.11%, respectively. Conversely, FBN Holdings faced a 1.97% decline in market value.

 

 

The NGX All-Share Index recorded a modest decrease, shedding 43.92 points to settle at 104,518.14 points compared to the previous close of 104,562.06 points. Market capitalization also experienced a contraction of N24.83 billion, ending the day at N59.095 trillion, slightly lower than N59.121 trillion.

 

Despite these fluctuations, the market atmosphere remained optimistic, with PRESTIGE and MAYBAKER leading 23 gainers, each surging 10% in share price. However, UACN’s shares declined by 9.82%, marking it as one of the most notable losers among 17 stocks.

 

GTCO stood out for the monetary value of its traded shares and volume of trade, reflecting the market’s vibrancy with an increase in transactions to 12,925, up from 10,257 in the prior session.

 

 

The majority of the SWOOT group, including companies like AIRTELAFRI, BUA Cement, BUAFOODS, DANGCEM, GEREGU, MTNN, SEPLAT, TRANSCOHOT, and TRANSPOWER, demonstrated stability by maintaining their share prices amidst market fluctuations.

 

 

A review of the day’s trading for the leading banks showed divergent outcomes. Access Holdings, GTCO, and Zenith Bank enjoyed increases in their share prices of 2.04%, 1.05%, and 0.11%, respectively. Conversely, FBN Holdings and UBA saw their stock values decrease by 1.97% and 0.71%, respectively.


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