The market on Monday admitted the bulls occasioned by gain in the share price of Dangote Cement. The market is waiting for the outcome of the Monetary Policy Committee on Tuesday which will obviously determine the direction of the market.
The All Share Index appreciated by 0.21% to settle at 41,088.96 points from the previous close of 41,001.99 points. Investors gained N45 billion as Market Capitalisation grew by 0.21% to close at N21.494 trillion from the previous close of N21.449 trillion.
An aggregate of 333 million units of shares were traded in 5,640 deals, valued at N2.64 billion.
The Market Breadth closed negative as 19 equities emerged as gainers while 30 equities declined in their share prices.
Stocks to Watch
- Access Bank grew to N9.20 from N9.15. It is currently trading 12.38% away from its 52 weeks high of N10.5. 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 N9.20.
- FBN Holdings grew to N7.40 from N7.35. 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. Considering its book value of N19.84, relative to the current share price of N7.40, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank closed flat at N26.50. 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 grew to N26.50 from N26. It is trading 5.19% 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 grew to N8.75 from N8.7. It is trading 10.71% 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 traded flat at N33.1. 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
Academy Press Plc led other gainers with 10% growth to close at N0.44 from the previous close of N0.40.
May & Baker, MRS, Champions Breweries and University Press among other gainers also grew their share prices by 9.86%, 9.82%, 9.74% and 9.60% respectively.
Percentage losers
Royal Exchange and C&I Leasing led other price decliners as they shed 10% of their share prices to close at N0.36 and N5.13 respectively.
Ardova Plc and Japaul Gold among other price decliners also shed their share prices by 9.78% and 9.47% respectively.
Volume Drivers
- Transcorp Plc traded about 48.998 million units of its shares in 220 deals, valued at N53.31 million.
- AXA Mansard traded about 28.03 million units of its shares in 160 deals, valued at N38.295 million.
- Fidelity Bank traded about 26.53 million units of its shares in 146 deals, valued at N72.597 million.