The equity market for 3 straight days this week closed on a positive note out of the four trading days, showing a sign of recovery.
The All Share Index on Friday appreciated by 0.17% to close at 38,866.39 points from the previous close of 38,799.83 points. Investors gained N35 billion as the Market Capitalisation appreciated by 0.17% to close at N20.335 trillion from the previous close of N20.300 trillion.
An aggregate of 160.65 million units of shares were traded in 3,507 deals, valued at N1.28 billion.
The Market Breadth closed firm as 14 equities emerged as gainers against 14 equities that declined in their share prices.
Percentage Gainers
Honeywell Flour led other gainers with 8.85% growth to close at N1.23 from the previous close of N1.13.
Sovereign Trust Insurance, Japaul Gold and Livestock Feeds among other gainers also grew their share prices by 8.70%, 8.62% and 7.22% respectively.
Percentage losers
Guinness led other price decliners as it sheds 10% of its share price to close at N29.7 from the previous close of N33.
Unity Bank, ABC Transport and Mutual Benefit Assurance among other price decliners also shed their share prices by 9.86%, 9.09% and 7.14% respectively.
Volume Drivers
- Mutual Benefit Assurance traded about 22.91 million units of its shares in 47 deals, valued at N8.955 million.
- Access Bank traded about 18.75 million units of its shares in 283 deals, valued at N150.8 million
- Japaul Gold traded about 14.93 million units of its shares in 118 deals, valued at N8.6 million.
Stocks to Watch
- Access Bank traded flat at N8.05. It is trading 23.33% away from its 52 weeks high of N10.5, hence there is uptrend potential in Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price.
- FBN Holdings traded flat at N7.25. It is trading 19.44% 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, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N21.95 from N21.8. It is trading 22.98% away from its 52 weeks high of N28.5. There is uptrend potential in the share price of Zenith Bank. With the book value of N35.59 relative to the current share price, Zenith Bank is considered cheap.
- UBA traded flat at N7. It is trading 28.57% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N28.9 from N28.75. It is trading 24.84% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N21. It is trading 33.33% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.