Guaranty Trust Holding Company Plc (GTCO) led trading by value on the Nigerian Exchange (NGX) on Wednesday after investors exchanged 86.19 million shares worth N11.85 billion in the financial services group.
GTCO’s N11.85 billion transaction value represented approximately 25.9 percent of the N45.82 billion traded across the equities market during the session.
The company ranked third among the most actively traded stocks by volume but emerged as the largest contributor to market turnover by value among the equities reported for the day.
GTCO recorded 86.19 million shares valued at N11.85 billion, behind Fortis Global Insurance and Fidelity Bank in terms of volume.
Fortis Global Insurance dominated activity by volume with 860.31 million shares worth N1.75 billion, accounting for approximately 54.1 percent of all shares exchanged on the NGX.
Fidelity Bank followed with 170.72 million shares valued at N3.41 billion.
Despite trading considerably fewer shares than Fortis and Fidelity Bank, GTCO generated significantly more transaction value, highlighting the difference in the prices at which the stocks were exchanged.
Dangote Sugar Refinery recorded 36.49 million shares worth N2.54 billion, while Chams Holding Company traded 35.34 million shares valued at N117.37 million.
Together, GTCO, Fortis Global Insurance, Fidelity Bank, Dangote Sugar and Chams generated approximately N19.68 billion, equivalent to about 43 percent of the day’s total transaction value.
The five equities also accounted for approximately 1.19 billion shares, representing about 74.7 percent of the 1.59 billion shares traded during the session.
Overall market volume almost doubled from the previous session.
Investors exchanged 1.59 billion shares on Wednesday, representing an increase of approximately 90 percent from the 837.26 million shares traded on Tuesday.
However, transaction value declined by about 5.7 percent from N48.57 billion to N45.82 billion, while the number of deals decreased from 52,126 to 49,836.
The broader market maintained its upward momentum with the NGX All-Share Index advancing 0.23 percent to 251,191.02 points from 250,614.66 points.
Equity market capitalisation increased by approximately N374 billion to N163.06 trillion from N162.68 trillion in the previous session.
GTCO’s N11.85 billion in trades therefore accounted for more than one-quarter of the total value exchanged on the NGX on Wednesday, making the financial services group the leading contributor to market turnover by value among the stocks reported for the session.
