The Nigerian stock market on Friday retained the Bears occasioned by profit taking by investors most especially in insurance stocks.
The All Share Index declined by 0.24% to settle at 41,001.99 points from the previous close of 41,099.15 points. The Market Capitalisation declined by 024% to close at N21.449 trillion from the previous close of N21.499 trillion, thereby shedding N50 billion.
An aggregate of 591.46 million units of shares were traded in 5,767 deals, valued at N5.072 billion.
The Market Breadth closed negative as 21 equities emerged as gainers while 33 equities declined in their share prices.
Stocks to Watch
- Access Bank dropped to N9.15 from N9.25. It is currently trading 16.06% away from its 52 weeks high of N10.9. 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 closed flat at N7.35. 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, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N26.50 from N26.45. It is trading 7.02% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.50, Zenith Bank has a lot of uptrend potential.
- WAPCO dropped to N26 from N27.95. It is trading 6.98% away from its 52 weeks high of N27.95. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA dropped to N8.7 from N8.95. It is trading 11.22% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.7, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N33.1 from N33. It is trading 13.91% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
NCR Nigeria Plc led other gainers with 9.86% growth to close at N3.12 from the previous close of N2.84.
Cutix Plc, Champion’s Breweries and Multiverse among other gainers also grew their share prices by 9.71%, 9.55% and 9.09% respectively.
Percentage losers
Cornerstone Insurance, Mutual Benefit Assurance, Livestock Feeds and Niger Insurance shed 10% of their share prices to close at N0.72, N0.45, N2.52 and N0.27 respectively.
Consolidated Hallmark Insuarnce, AIICO Insurance, MRS, NEM Insurance, Japaul Gold and LASACO among other price decliners also shed their share prices by 9.76%, 9.72%, 9.68%, 9.67%, 9.52% and 9.43% respectively.
Volume Drivers
- Transcorp Plc traded about 169.28 million units of its shares in 493 deals, valued at N195.89 million.
- Japaul Gold traded about 47.28 million units of its shares in 243 deals, valued at N44.95 million.
- UBA traded about 36.64 million units of its shares in 318 deals, valued at N321.8 million