GTCO Rises to N2.15trn as Foreign Investors Take Positions
The most valuable financial services company, Guaranty Trust Holdings Company (GTCO) Plc, saw its market value surge by about 7% in the equities market after the stock price was marked down for its N7.30 dividend payment.
The increase in the financial services holdings company was majorly propelled by significant offshore activity in the stock market with a focus on the orange-branded financial services provider. Foreign investors scrambling for banking stocks increased their positions in GTCO ahead of the group’s first quarter of 2025 earnings release.
Reflecting investors’ positive mood, the holding company saw its share price climb to N63 in a market rally that lasted for three out of four trading sessions on the Nigerian Exchange last week.
Details from the transactions conducted on GTCO shares showed that the price surged by 6.7786% from N59 at the beginning of the week, reflecting strong market activities.
The last rally was propelled by a significant share volume traded in the Nigerian market on Friday. GTCO rose from N61.1 to N63 on Friday as more than 60.735 million units valued at N3.807 billion exchanged ownership.
GTCO led the volume chart with 60.74 million units traded in the stock market on Friday, accounting for 14.19% of total volume traded on NGX on Friday. #GTCO Rises to N2.15trn as Foreign Investors Take Positions Naira Appreciates as CBN Sells Additional Dollars in FX Market
