By Seun Ibiyemi
Guaranty Trust Holding Company Plc (GTCO) emerged as the most traded stock by value on Thursday as the Nigerian equities market extended its bullish rally, delivering a N1.698 trillion gain to investors.
GTCO recorded the highest value of traded equities at N6.20 billion, accounting for 16.51 per cent of the total value exchanged during the session, underscoring sustained investor appetite for tier-one banking stocks amid renewed market optimism.
Overall, market capitalisation rose by 1.39 per cent from N122.236 trillion at the opening of trading to N123.934 trillion at the close, reflecting a N1.698 trillion increase.
Similarly, the All-Share Index (ASI) advanced by 2,645.61 points, or 1.39 per cent, climbing from 190,427.96 to 193,073.57.
The market’s positive performance was supported by strong earnings releases, attractive dividend prospects from trillion-naira capitalised stocks, and increased participation by Pension Fund Administrators (PFAs), who channelled fresh funds into large-cap equities.
While GTCO led in value traded, market activity showed a mixed trend compared to the previous session.
A total of 898.5 million shares valued at N38.5 billion were exchanged in 61,953 deals, representing a 76 per cent drop in volume, a 38 per cent decline in value, and a 10 per cent decrease in transactions relative to Wednesday’s trading figures.
Market breadth remained positive with 52 gainers against 26 losers. Stocks such as Okomu Oil Palm Company, Deap Capital Management & Trust Plc and Fortis Global Insurance Plc led the gainers’ chart, while Multiverse Mining and Exploration Plc and Meyer Plc featured among the laggards.
The strong showing by GTCO highlights continued investor confidence in fundamentally sound banking stocks, even as overall trading volumes moderated during the session.
