The equity market on Wednesday continued its bullish run occasioned by growth in heavy weight stocks like Airtel and MTN among others.
The All Share Index appreciated by 0.83% to settle at 41,930.73 points from the previous close of 41,584.94 points. Investors gained N180 billion as Market Capitalisation grew by 0.83% to close at N21.934 trillion from the previous close of N21.754 trillion.
An aggregate of 543.597 million units of shares were traded in 6,770 deals, valued at N7.32 billion.
The Market Breadth closed positive as 35 equities emerged as gainers while 21 equities declined in their share prices.
Stocks to Watch
- Access Bank grew to N9.35 from N9.25. It is currently trading 10.95% away from its 52 weeks high of N10.5. At that, there is uptrend potential in the share price of Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price of N9.35.
- FBN Holdings grew to N7.60 from N7.40. It is trading 15.56% 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 N7.60, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N26.40 from N26.25. It is trading 7.37% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.40, Zenith Bank is underpriced and has growth potentials.
- WAPCO grew to N29.5 from N27.5. It touch another year high of N29.9 today but eventually closed at N29.5. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA grew to N9 from N8.80. It is trading 8.16% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N9, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N33.2 from N33.15. It is trading 13.65% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Consolidated Hallmark Insurance and Guinea Insurance both gained 10% to close at N0.44 and N0.22 respectively.
Fidson, Champion Breweries and LASACO among other gainers also grew their share prices by 9.90%, 9.79% and 9.76% respectively.
Percentage Losers
Skyway Aviation led other price decliners as it shed 10% of its share price to close at N2.88 from the previous close of N3.20.
Cornerstone Insurance, Caverton and Universal Insurance among other price decliners also shed their share prices by 9.72%, 9.41% and 8.70% respectively.
Volume Drivers
- Transcorp Plc traded about 57.238 million units of its shares in 195 deals, valued at N61 million.
- Japaul Gold traded about 52.04 million units of its shares in 221 deals, valued at N61.017 million.
- Zenith traded about 47.16 million units of its shares in 511 deals, valued at N1.24 billion.