Transactions on the floor of the Nigerian Stock Exchange closed on a positive note as the All Share Index appreciated further by 0.11% to settle at 40,341.05 points from the previous close of 40,295.95 points. Investors gain N24 billion as Market Capitalisation grew by 0.11% to close at N21.094 trillion from the previous close of N21.070 trillion.
Listed companies have started announcing their closed periods for full year 2020 financial report. At that, investors have been taking position for high dividend yield stocks which can be linked to the current positive market vibration.
An aggregate of 468.146 million units of shares were traded in 5,697 deals, valued at N6.96 billion.
The market breadth closed positive as 32 stocks appreciated in their share prices against 16 stocks that declined in their share prices.
Stocks to Watch
- Access Bank grew to N9.15 from N9.05. It is currently trading 23.75% away from its 52 weeks high of N12. 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 N9.15.
- FBN Holdings dropped to N7.35 from N7.40. 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. Considering its book value of N19.84, relative to the current share price of N7.35, it is obvious that FBNH is underpriced and has a lot of growth potential embedded in it.
- Zenith Bank grew to N25.9 from N25.8. It is trading 9.12% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N25.9, Zenith Bank has a lot of uptrend potential.
- WAPCO grew to N22.6 from N22.3. It is trading 13.08% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
- UBA traded flat at N8.80. It is trading 10.20% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.8, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N32.4 from N32.50. It is trading 15.73% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Academy Press, Sovereign Trust Insurance and Veritas Kapital grew their share prices by 10% to close at N0.33, N0.22 and N0.22 respectively.
BOC Gas and Champions Breweries among other gainers also grew their share prices by 9.92% and 9.80% respectively.
Percentage Losers
Chellaram Plc led other price decliners as it shed 9.96% of its share price to close at N2.26 from the previous close of N2.51.
Livestock Feeds and Consolidated Hallmark Insurance among other price decliners also shed their share prices by 9.74% and 8.82%
Volume Drivers
- Zenith Bank traded about 45.77 million units of its shares in 486 deals, valued at N1.186 billion.
- LASACO traded about 40.72 million units of its shares in 65 deals, valued at N17.02 million.
- UBA traded about 31.82 million units of its shares in 233 deals, valued at N283 million