The equity market last week was dominated by profit taking as the first 3 days of the week closed in red while the remaining 2 days closed in green. Overall, the All share Index and Market Capitalisation both declined by 0.05% week on week to close at 25,591.95 points and N13.351 trillion respectively. Year to date the market has returned -4.66%.
An aggregate of 1.226 billion units of shares, valued at N10.842 billion in 19,529 deals were traded this week by investors on the floor of the Exchange, in contrast to a total of 2.209 billion shares valued at N10.957 billion that exchanged hands last week in 18,013 deals.
Twenty Three (23) equities appreciated in price during the week, lower than Forty-one (41) equities in the previous week. Thirty Eight (38) equities depreciated in price, higher than Nineteen (19) equities in the previous week, while one hundred and two (102) equities remained unchanged, lower than one hundred and three (103) equities recorded in the previous week.
FBN Holdings Plc
The big elephant grew its share price by 1.00% week on week to close at N5.05 from N5 it closed the previous week. The share price of the Holding Company within the last 52 weeks has touched a high of N7.85 and a low of N3.6.
The bank share is trading at about 40.28% above its 52 weeks low and 35.67% away from its 52 weeks high price. A position taken in the stock of FBNH has an upside potential of 35.67%.
With the Book Value of N19.62, relative to the current share price of N5.05, it is obvious that the share price of FBNH is cheap at the current price.
Access Bank Plc
The share price of Access Bank grew by 4.65% week on week to close at N6.75 from N6.45 the previous week. Interim dividend of 25 kobo declared by the bank impacted positively on the share price of the bank. The share price of Access Bank has 52 weeks low of N5.30 and 52 weeks high of N12.00.
Access Bank’s share is trading at about 27.36% above its 52 weeks low and 43.75% away from its 52 weeks high price. A position taken in the stock of Access Bank has an upside potential of 43.75%.
The Book Value of Access Bank is N18.86. Relative to the current share price of N6.75, the bank’s share is underpriced.
MTN Nigeria
The telecommunication company among the heavy weight stocks on NSE with the market capitalization of N2.44 trillion.
MTN grew its share price by 1.18% week on week to close at N120 from the previous close of N118.6.
At N90.00 fifty two weeks low and N145.00 fifty two week high, this stock has the upwards side to journey.