The Nigerian stock market on Friday admitted the Bears, occasioned by drop in the share price of Dangote Cement. This is due to the shortfall in the share buy-back programme of Dangote Cement. The market had expected the price will move to about N300 due to the share buyback programme; it has however been trading flat at N244.9 for a few days. Dangote Cement shed 8.13% to settle at N225 from N244.9.
The All Share Index declined by 1.16% to settle at 40,120.22 points from the previous close of 40,590.85 points. Market Capitalisation declined by 1.16% to N20.987 trillion from the previous close of N21.224 trillion, thereby shedding N246 billion.
An aggregate of 333.31 million units of shares were traded in 5,142 deals, valued at N3.648 billion.
The market breadth closed positive as 39 stocks appreciated in their share prices against 11 stocks that declined in their share prices.
Stocks to Watch
- Access Bank grew to N9.05 from N8.8. It is currently trading 24.58% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
- FBN Holdings grew to N7.45 from N7.35. It is trading 17.22% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
- Zenith Bank grew to N25.65 from N25.3. It is trading 10% away from its 52 weeks high of N28.5.
- WAPCO dropped to N22.3 from N22.4. It is trading 14.23% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
- UBA grew to N8.85 from N8.6. It is trading 9.69% away from its 52 weeks high of N9.8.
- Guaranty Trust Bank traded flat at N33. It is trading 14.17% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Seplat, BOC Gas and Total Plc gained 10% each to close at N496.1, N12.65 and N143 respectively.
Ardova, Champion Breweries and FTN Cocoa among other gainers also grew their share prices by 9.73%, 9.68% and 9.09% respectively.
Dangote Cement led other price decliners as it shed 8.13% of its share price to close at N225 from the previous close of N244.9.
Deap Capital and Royal Exchange Assurance among other price decliners also shed their share prices by 4.35% and 4.17% respectively.
- Access Bank traded about 35.11 million units of its shares in 296 deals, valued at N315.78 million.
- Transcorp traded about 25.06 million units of its shares in 120 deals, valued at N24 million.
- Guaranty Trust Bank traded about 24.89 million units of its shares in 306 deals, valued at N821.26 million.