Market sustains recovery, advances by 0.31%

Transactions on the floor of the Nigerian Stock Exchange on Thursday closed on a positive note as the All Share Index appreciated by 0.31% to settle at 40,590.85 points from the previous close of 40,465.15 points. Market Capitalisation increased to N21.224 trillion from the previous close of N21.158 trillion, which translates to N66 billion gain.

An aggregate of 2.13 billion units of shares were traded in 4,558 deals, valued at N7.509 billion.

The market breadth closed positive as 27 stocks appreciated in their share prices against 14 stocks that declined in their share prices.

Stocks to Watch

  • Access Bank traded flat at N8.8. It is currently trading 26.67% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
  • FBN Holdings grew to N7.35 from N7.25. It is trading 18.33% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
  • Zenith Bank grew to N25.3 from N25.1. It is trading 11.23% away from its 52 weeks high of N28.5.
  • WAPCO closed flat at N22.4. It is trading 13.85% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
  • UBA traded flat at N8.6. It is trading 12.24% away from its 52 weeks high of N9.8.
  • Guaranty Trust Bank grew to N33 from N32.50. It is trading 14.17% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.

Percentage Gainers

FTN Cocoa, Seplat and Livestock Feeds gained 10% each to close at N0.66, N451 and N1.65 respectively.

Ardova, Japaul Gold and Champions Breweries among other gainers also grew their share prices by 9.96%, 9.88% and 9.41% respectively.

Percentage Losers

Sovereign Trust Insurance led other price decliners as it shed 9.09% of its share price to close at N0.20 from the previous close of N0.22.

Courtville, LASACO and Unilever among other price decliners also shed their share prices by 8.70%, 7.89% and 6.47% respectively.

Volume Drivers

  • UBA traded about 26.487 million units of its shares in 233 deals, valued at N228.45 million.
  • Dangote Sugar traded about 21.47 million units of its shares in 165 deals, valued at N397.845 million.
  • Fidelity Bank traded about 15.71 million units of its shares in 143 deals, valued at N39.748 million.

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