Guaranty Trust Holding Company (GTCO) saw a slight recovery in the equities segment of the Nigerian Exchange after being priced at ₦61 in a 13-million-unit block trade on Thursday. At the close of the trading session, GTCO’s market price dipped to ₦60.5. However, during intraday trading on Friday, the stock rebounded, climbing back to ₦61.
Data from the Nigerian Exchange revealed that a total of 26,685,418 GTCO shares were traded, with prices initially slipping from ₦61.6 to ₦60.5. Stockbrokers noted that out of this volume, 13 million shares were executed as block trade transactions—privately negotiated deals designed to minimize price volatility.
Since the transaction took place outside the standard exchange trading platform, price fluctuations remained limited. Despite the temporary dip, GTCO continues to trade at a fair discount to its 52-week high of ₦64.5 in the equities market.
As of Friday’s intraday session, GTCO’s market valuation stood at approximately ₦2.082 trillion, with investors anticipating its upcoming 2024 earnings results.
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