GTB BRINGS ON SMILES

At the Nigerian stock market today February 13 2017, Guarantee Trust Bank brought on smiles as investors jostled for a piece of a large parcel (26m plus) to lead the market in deals struck and volume.

In the end 299 deals were struck as the units were taken at N24.25 per share resulting in 1% or N0.24 gain.

Sure, UBA coming on with 25,858,968units for sale came close too in terms of volume but comparatively, there was no scramble. The lot was bought through 96 deals at N4.8 per share ( down 0.21%).

E Tranzact, in a rare showing, was reckoned with too in terms of volume as 20,436,590 units were sold amidst far less interest leading to only 9 deals with no price change.

Between them these three equities contributed above 50% of the day's volume which at 141,916,837 units was 29.6% down on Friday volume.

Number of deals struck also depressed but by 8.37% to 2386.

You guessed right, it was yet another day of drop in the All shares index but the noteworthy thing was that ASI went down 0.04% even as mighty premium index rose by 0.71% to 1657.89 along with four other indices.

The thing was that combined 2.32% and 1.08% drops in banking and main board indices respectively was too much to accommodate.

Top gainer for the day in % terms was Betaglass which gained N1.65 or 4.99% per share as four deals were recorded for just 54095 units.

However, in terms of Naira, top gainer was Seplat petroleum which rose by N5 per as a lone deal for 25,000 units was sealed at N1.33 per share.

Other major % gainers include PZ Cussons (up 4.98%), UACN (4.76%), Air service (4.74), Caverton Offshore (4.44%) and livestock feeds (4.17%).

Top loser were Nascon, Nigerian Breweries and Transcorp each down 5% although only Nigerian Breweries lost above N2 per share (N6.25 to be exact).

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