MAY 9, 2018: GTB DAY AT NIGERIAN STOCK EXCHANGE

Wednesday, May 9 2018 was indeed Guaranty Trust Bank day at the Nigerian Stock Exchange but only as it dominated traded value and volume but dipped in price.

In a rare offload, a total of 162.81m shares of GTB changed hands in 4th ranked 194 deals worth distant running N7.399bn but as the equity lost N0.65 per share with some struggle.

It had closed Tuesdsy at N45.65 per share, opened the day at N45.30 then hit a day high of N45.50 slipped to day low of N44.20 then closed at N45 per share.

The traded volume  was almost 50% of the day's 341.05m shares but the traded value had no match. The nearest traded value to it was Zenith Bank's N378.47m clocked from 2nd placed 265 deals for 13.77m shares as the bank edged up by N0.10 per share.

In terms of investors interest though, GTB, even with the offload trailed not only Zenith bank but also FBN Holdings and Fidelity bank.

FBN Holdings closed with leading 282 deals for 25.85m shares worth N310.9m, with both ranked 3rd for the day.

Fidelity Bank, on the other hand, placed 2nd in terms of traded volume with 29.51m shares but ranked in deals with 212 deals worth only N72.73m, way out of the top league in value terms.

For the third day this week, the All share index closed down this time with 0.18% to 41,080.12 as 27 price losers were recorded compared to 22 gainers.

Lead drop was by Unilever Nigeria down N2.60 per share as it witnessed 56 deals for 0.423m shares worth N21.3m simply by closing at N49.90 per share compared to N52.50 previously.

But additional leading pulls on the ASI downwards were N1.80 or 1.42% per share drop by Nigerian Breweries and N1.65 or 4.26% decline in CAP Plc.

CAP Plc posted 22 deals for 0.354m shares worth N2.74m as it went down while NB, still losing grounds recorded 108 deals for 0.492m shares worth N61.87m.

Top price gainer was Nestlé Nigeria up N2.50 or 0.16% per share while witnessing 51 deals for 0.132m. Shares worth N205.4m.

Nestlé closed Tuesday at N1567.50, then looked like it was heading down further as it opened at N1540 per share before closing higher at N1570 per share.

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