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    Tuesday, May 26
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    GTCO Climbs with Significant Block Trade Deals

    Julius AlagbeBy No Comments2 Mins Read
    GTCO Climbs with Significant Block Trade Deals
    GTCO

    GTCO Climbs with Significant Block Trade Deals

    Amidst its earning delay, Guaranty Trust Holdings Company (GTCO) Plc market value climbed by 85 basis points to N3.460 trillion as the financial services group recorded significant off market shares transactions.

    The financial services company share price inched higher to N95 in a bid to recover from its latest sell pressures, from N94.20 at the beginning of the week.

    In the Nigerian Exchange trading platform, GTCO led the activity chart, accounting for 7.96% of the total volume of all trades transacted.

    Anchoria Securities Limited reported that several transactions totalling 30 million shares were executed at the same market price of ₦95.00 resulting in a trade value of ₦2.5 billion.

    The block deals were conducted outside the Nigerian Exchange, a kind of structured arrangement led by brokers acting on behalf of their clients.

    GTCO recorded 32.890 million shares traded valued at N3.124 billion on Tuesday, emerged as the most traded stock in terms of value, with 24.18% of the total value of trade on the exchange.

    MarketForces Africa reported that foreign portfolio investors have continued to increase their bets on GTCO due to absence of keyman risks, earnings potential and positive effects of latest listing on London Stock Exchange.   Banking, Insurance Sectors Drive NGX Index Higher by 29bps

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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