The Nigerian equity market on Thursday admitted the Bulls bringing a halt to the eight day down trend in the market. This occasioned by 7.04% gain in the share price of Dangote Cement and 1.61% gain in the share price of MTN.
The All Share Index appreciated by 0.78% to settle at 41,014.30 points from the previous close of 40,696.01 points.
The Market Capitalisation closed at N21.456 trillion, up by 0.78% from the previous close of N21.290 trillion, thereby gaining N166 billion.
An aggregate of 1.27 billion units of shares were traded in 6,573 deals, valued at N6.397 billion.
The Market Breadth closed negative as 7 equities emerged as gainers against 46 equities that declined in their share prices.
Stocks to Watch
- Access Bank dropped to N8 from N8.1. It is trading 23.81% away from its 52 weeks high of N10.5, hence there is uptrend potential in Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price.
- FBN Holdings traded flat at N7.2. It is trading 20% 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 N19.84, relative to the current share price of N7.2, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank dropped to N24.8 from N25. It is trading 12.98% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to its current share price, Zenith Bank is underpriced.
- UBA traded flat at N8.1. It is trading 17.35% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N30.55 from N32.2. It is trading 20.55% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
Dangote Cement led other gainers with 7.04% growth, closing at N228 from the previous close of N218.
This followed by Mutual Benefit Assurance as it gained 5.41% to close at N0.39 from the previous close of N0.37.
Other gainers include Sovereign Trust Insurance (3.70%), Vitafoam (3.33%), Unilever (2.57%), MTN (1.61%), and NPF Microfinance Bank (0.56) respectively.
Percentage losers
Livestock Feeds and Linkage Assurance both gained 10% to close at N2.25 and N0.54 respectively.
NAHCO, Northern Nigeria Flour Mills (NNFM) and Portland Paints among other price decliners also shed their share prices by 9.96%, 9.98% and 9.84% respectively.
Volume Drivers
- Living Trust Mortgage Bank traded about 796.45 million units of its shares in 1 deal, valued at N493.8 million.
- Transcorp Plc traded about 55.75 million units of its shares in 232 deals, valued at N50.53 million.
- FBN Holdings traded about 51.94 million units of its shares in 278 deals, valued at N364.51 million.