Trading on the floor of the Nigerian Stock Exchange last week was for four days as the Federal Government of Nigeria declared Monday 5th April 2021 (Easter Monday) as Public Holiday in commemoration of the Easter Monday.
The NSE All-Share Index and Market Capitalization depreciated by 0.13% to close the week at 38,866.39 and N20.335 trillion respectively.
An aggregate of 887.037 million units of shares, valued at N9.193 billion in 17,837 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.445 billion shares valued at N19.039 billion that exchanged hands the previous week in 17,400 deals.
The Financial Services Industry led the activity chart with 607.224 million shares valued at N6.066 billion traded in 10,125 deals; thus contributing 68.46% and 65.99% to the total equity turnover volume and value respectively. The Conglomerates Industry followed with 112.318 million shares worth N572.831 million in 1,450 deals. The third place was Oil and Gas Industry, with a turnover of 57.662 million shares worth N201.453 million in 1,107 deals.
Trading in the top three equities namely Zenith Bank Plc, Access Bank Plc and Guaranty Trust Bank Plc measured by volume accounted for 259.248 million shares worth N4.818 billion in 4,970 deals, contributing 29.23% and 52.41% to the total equity turnover volume and value respectively.
All other indices finished lower with the exception of NSE Premium, NSE MERI Growth, NSE Consumer Goods, NSE Lotus II and NSE Growth Index which appreciated by 0.62%, 0.28%, 1.12%, 1.11% and 0.62% while the NSE ASeM Index closed flat.
Seventeen (17) equities appreciated in price during the week, lower than forty-two (42) equities in the previous week. Forty (40) equities depreciated in price higher than twenty-two (22) equities in the previous week, while one hundred and five (105) equities remained unchanged, higher than ninety-eight (98) equities recorded in the previous week.
Stocks to Watch
- Access Bank traded flat at N8.05. It is trading 23.33% 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 N7.25. It is trading 19.44% 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, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N21.95 from N21.8. It is trading 22.98% 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. It is trading 28.57% 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 grew to N28.9 from N28.75. It is trading 24.84% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N21. It is trading 33.33% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.