GTCO, FBN Holdings, Transcorp Close as Busiest Stocks on NGX

February 26, 2024

By Dipo Olowookere

The trio of Guaranty Trust Holding Company (GTCO) Plc, FBN Holdings Plc, and Transcorp Plc ended as the busiest stocks on the Nigerian Exchange (NGX) Limited last week.

They accounted for 343.584 million shares worth N9.431 billion in 5,659 deals, contributing 24.96 per cent and 29.86 per cent to the total trading volume and value, respectively

Data obtained by Business Post showed that the market recorded a turnover of 1.377 billion shares worth N31.584 billion in 42,040 deals versus the 1.559 billion shares valued at N36.497 billion traded in 42,546 deals in the preceding week.

Financial equities dominated the activity chart in the week with 960.519 million units valued at N16.844 billion in 19,669 deals, contributing 69.77 per cent and 53.33 per cent to the total trading volume and value, respectively.

Conglomerates shares trailed with 115.241 million units worth N1.511 billion in 2,859 deals, and energy stocks were in third place with 80.866 million units sold for N1.721 billion in 2,726 deals.

A total of 14 shares appreciated in price last week versus 35 shares in the previous week, while 66 equities depreciated in price versus 51 equities a week earlier, and 74 stocks closed flat versus 68 stocks in the preceding week.

The biggest price gainer was Juli, which rose by 59.18 per cent to N2.34, followed by Sunu Assurance, which gained 17.42 per cent to trade at N2.09. FBN Holdings surged by 10.71 per cent to N31.00, Geregu Power jumped by 9.32 per cent to N985.00, and Prestige Assurance soared by 8.77 per cent to 62 Kobo.

Conversely, Morison Industries recorded the biggest fall, 32.66 per cent, to settle at N1.25. Consolidated Hallmark lost 19.35 per cent to quote at N1.25, Sterling Holdings shrank by 18.69 per cent to N4.35, Guinea Insurance dropped 16.67 per cent to 40 Kobo, and ABC Transport declined by 16.67 per cent to 75 Kobo.

The All-Share Index (ASI) and the market capitalisation depreciated by 3.44 per cent each to 102,088.30 points and N55.861 trillion, respectively.

Also, all other indices finished lower with the exception of ASem, the consumer goods and energy sectors, which improved by 11.66 per cent, 2.01 per cent and 0.01 per cent apiece.

Dipo Olowookere

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

Mr Olowookere can be reached via [email protected]

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