Stock market commences the year on a positive note, advances by 2.18%

The Nigerian equity market on Monday commenced the year on a positive note as the All Share Index appreciated by 2.18% to settle at 41,147.39 points from the previous close of 40,270.72 points. Investors gained N458 billion as Market Capitalisation grew to N21.515 trillion from the previous close of N21.057 trillion.

An aggregate of 211.93 million units of shares were traded in 3,438 deals, valued at N1.41 billion.

The market breadth closed positive as 32 stocks appreciated in their share prices against 2 stocks that declined in their share prices.

Stocks to Watch

Investors should continue to pitch their tent with fundamentally sound stocks. As the market anticipates dividends declaration season, investors should take advantage of stocks with good dividend yield.

  • Access Bank grew to N8.8 from N8.45. 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 N7.85 from N7.15. It is trading 12.78% 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 N25.7 from N24.8. It is trading 9.82% away from its 52 weeks high of N28.5.
  • WAPCO grew to N22.95 from N21.05. It is trading 11.73% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
  • UBA grew to N8.85 from N8.65. It is trading 9.69% away from its 52 weeks high of N9.8.
  • Guaranty Trust Bank grew to N33.5 from N32.35. It is trading 12.87% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.

Percentage Gainers

Honeywell Flour, Transcorp and Sovereign Trust Insurance grew their share prices by 10% to close at N1.32, N0.99 and N0.22 respectively.

Fidelity Bank and International Breweries both grew their share prices by 9.92% to close at N2.77 and N6.54 respectively.

BUA Cement and FBN Holdings among other gainers also grew their share prices by 9.89% and 9.79% respectively.

Percentage Losers

FCMB are Caverton at the close of trade shed their share prices by 6.01% and 3.41% respectively.

Volume Drivers

  • AIICO Insurance traded about 87.52 million units of its shares in 25 deals, valued at N98.96 million.
  • FCMB traded about 19.63 million units of its shares in 202 deals, valued at N60.077 million.
  • Transcorp traded about 12.78 million units of its shares in 97 deals, valued at N12.608 million.

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