The equity market on Monday closed on a positive note as the All Share Index appreciated by 0.29% to settle at 39,312.74 points from the previous close of 39,198.75 points.
Investors gained N60 billion as the Market Capitalisation appreciated by 0.29% to settle at N20.491 trillion from the previous close of N20.431 trillion.
An aggregate of 324.187 million units of shares were traded in 4,867 deals, valued at N3.28 billion.
The Market Breadth closed positive as 28 equities appreciated in their share prices against 15 equities that declined in their share prices.
Percentage Gainers
- ABC Transport and Regency Assurance led other gainers with 9.68% growth, closing at N0.34 respectively.
- Union Bank and Linkage Assurance among other gainers also grew their share prices by 9.26% and 8.70% respectively.
Percentage Losers
- Unity Bank led other price decliners as it shed its share price by 8.33% to close at N0.55 from the previous close of N0.60.
- Japaul Gold and Neimeth among other price decliners also shed their share prices by 6.67% and 6.04%.
Volume Drivers
- ETRANZACT traded about 72.18 million units of its shares in 1 deal, valued at N162.396 million.
- Zenith Bank traded about 44 million units of its shares in 487 deals, valued at N1.02 billion.
- Access Bank traded about 22.98 million units of its shares in 428 deals, valued at about N189.17 million.
Stocks to Watch
- Access Bank grew to N8.35 from N8.15. It is trading 20.48% away from its 52 weeks high of N10.5. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- FBN Holdings dropped to N7.2 from N7.35. It is trading 20% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of FBNH. Considering its book value of N21.32, relative to the current share price, shows that FBNH is cheap at the current price.
- Zenith Bank grew to N23 from N22.2. It is trading 19.3% away from its 52 weeks high of N28.5. There is uptrend potential in the share price of Zenith Bank. With the book value of N35.59 relative to the current share price, Zenith Bank is considered cheap.
- UBA grew to N7.25 from N7.15. It is trading 26.02% away from its 52 weeks high of N9.8. With the book value of N21.17 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N30 from N29.25. It is trading 21.98% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.