BUSINESS

GTCO Sustains Bearish Stance As Market Capitalization Decreases By N29.65bn

 

GTCO Plc closed the trading session with a decline in share price after the Holding company’s shares witnessed sell-pressures dragging the price down by 0.20% from N25.20 to N25.15, ranking the highest traded by value.

The NGX closed on a negative note amidst sell-offs and buy-interests as the benchmark All-Share Index (ASI) depreciated by 12 basis points.

The NGX ASI closed at 44,399.66points, to reflect a decline of 0.12% from the previous trading day and a Year-to-Date (YTD) return of 3.94%. Meanwhile, the market capitalization decreased by N29.65 billion.

NewsBeatng reports that at the close of market on Monday 17th of January 2022, the stock exchange market value currently stands at N23.92 trillion from N23.95 trillion in the previous trading day.

The market breadth closed negative as TIP led 16 gainers, and 22 losers topped by VERITAS at the end of today’s session.

The stock market has advanced 1,683.22 base points since the start of the year.

NGX ASI Top gainers

TIP up +10.00% to close at N0.44
SUNUASS up +9.68% to close at N0.34
ETERNA up +6.95% to close at N6.00
WAPIC up +6.25% to close at N0.51
CHIPLC up +4.48% to close at N0.70

NGX ASI Top losers

VERITAS down – 8.70% to close at N0.21
MBENEFIT down – 7.41% to close at N0.25
CORNERST down – 7.27% to close at N0.51
BUAFOODS down – 6.36% to close at N61.8
COURTVILLE down – 5.41% to close at N0.35

NGX ASI Top Traded by Volume

TRANSCORP – 39,347,236 units
FBNH – 25,495,680 units
GTCO – 24,811,707 units
ZENITHBANK – 20,918,370 units
FIDELITY – 10,356,143 units

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NGX ASI Top Traded by Value

GTCO – N625,087,836.05
ZENITHBANK – N532,963,107.60
FBNH – N305,974,260.65
NB – N298,158,777.25
MTNN – N182,686,379.00

Market sentiments trend towards the bears with the market differential being in favour of the decliners as 16 gainers were surpassed by 22 losers.

 

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