Market sustains uptrend as NSEASI inches up by 0.36%

The stock market on Tuesday closed on a Bullish note, occasioned by growth in the share price of Dangote Cement. The All Share Index appreciated by 0.36% to settle at 40,295.95 points from the previous close of 40,150.78 points. The market capitalization increased by 0.36% to N21.070 trillion from the previous close of N20.994 trillion, which translates to N76 billion gain.

An aggregate of 1.166 billion units of shares were traded in 5,591 deals, valued at N7.97 billion.

The market breadth closed positive as 27 stocks appreciated in their share prices against 20 stocks that declined in their share prices.

Stocks to Watch

  • Access Bank dropped to N9.05 from N9.1. It is currently trading 24.58% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
  • FBN Holdings traded flat at N7.40. It is trading 17.78% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
  • Zenith Bank dropped to N25.8 from N25.85. It is trading 9.47% away from its 52 weeks high of N28.5.
  • WAPCO traded flat at N22.3. It is trading 14.23% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
  • UBA dropped to N8.80 from N8.90. It is trading 10.20% away from its 52 weeks high of N9.8.
  • Guaranty Trust Bank dropped to N32.50 from N32.85. It is trading 15.47% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.

Percentage Gainers

Mutual Benefit Assurance, Nascon, Niger Insurance and Omatek Ventures grew their share prices by 10% to close at N0.33, N15.95, N0.22 and N0.22 respectively.

Ardova Plc, NCR Nigeria Plc and Consolidated Hallmark Insurance among other gainers also grew their share prices by 9.75%, 9.69% and 9.68% respectively.

Percentage Losers

Oando led other price decliners as it shed 5.41% of its share price to close at N3.50 from the previous close of N3.70.

Deap Capital and UAC Property among other price decliners both shed their share prices by 4.76% to close at N0.20 and N0.80 respectively.

Volume Drivers

  • UPDC Real Estate and Investment Trust traded about 755 million units of its shares in 7 deals, valued at N4.15 billion.
  • AXA Mansard traded about 49.5 million units of its shares in 152 deals, valued at N59.13 million.
  • Transcorp traded about 44.27 million units of its shares in 85 deals, valued at N41.76 million

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