Market extends gain by 0.05%, investors gain N10bn

The equity market opened the week on a positive note as the All Share Index appreciated by 0.05% to settle at 39,319.75 points from the previous close of 39,301.82 points.

Investors gained N10 billion as market capitalization appreciated by 0.05% to close at N20.578 trillion from the previous close of N20.568 trillion.

An aggregate of 329.739 million units of shares were traded in 4,308 deals valued at N2.059 billion.

The market breadth closed positive as 25 equities emerged on the gainers list while 17 equities declined in their share prices.

Percentage Gainers

Linkage Assurance and Transcorp Plc led other gainers with 10% growth, closing at N0.88 respectively.

Cornerstone Insurance and Fidson Healthcare among other gainers also grew their share prices by 9.62% and 9.09% respectively.

Percentage Losers

Conoil led other price decliners as it sheds 9.33% of its share price to close at N17 from the previous close of N18.75.

Ikeja Hotel and Sovereign Trust Insurance among other price decliners also shed their share prices by 9.09% and 8.00% respectively.

Volume Drivers

  • Transcorp traded about 92.54 million units of its shares in 196 deals, valued at N81.28 million.
  • FBNH traded about 23.89 million units of its shares in 163 deals, valued at N177.33 million.
  • AXA Mansard traded about 20.05 million units of its shares in 90 deals, valued at N18.35 million.

Stocks to Watch

  • Access Bank grew to N7.55 from N7.50. It is trading 28.1% 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 traded flat at N7.45. 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. Considering its book value of N21.32, relative to the current share price, shows that FBNH is cheap at the current price.
  • Zenith Bank dropped to N22.2 from N22.3. It is trading 22.11% 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 traded flat at N7.5. It is trading 23.47% 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 N31.3 from N31.2. It is trading 18.6% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
  • Lafarge Africa (WAPCO) grew to N22.55 from N22.3. It is trading 28.41% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.

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