The equity market on Friday readmitted the Bears occasioned by losses in the share price of BUA Cement, Dangote Cement, and MTN as they shed 7.22%, 3.51% and 0.49% respectively.
The All Share Index depreciated by 1.40% to settle at 40,439.85 points from the previous close of 41,014.30 points. The Market Capitalisation shed N300 billion to close at N21.156 trillion from the previous close of N21.456 trillion.
An aggregate of 395.62 million units of shares were traded in 5,321 deals, valued at N5.19 billion.
The Market Breadth closed positive as 32 equities emerged as gainers against 9 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.15 from N8. It is trading 23.38% 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 grew to N7.25 from N7.2. 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 N25 from N24.8. It is trading 12.28% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to its current share price, Zenith Bank is underpriced.
- UBA grew to N8.2 from N8.1. It is trading 16.33% 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 dropped to N30.35 from N30.55. It is trading 21.07% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
UAC Property led other gainers with 9.59% growth, closing at N0.8 from the previous close of N0.73.
Linkage Assurance and Japaul Gold among other gainers also grew their share prices by 9.26% and 9.23% respectively.
Percentage losers
Livestock Feeds led other price decliners shedding 9.78% of its share price to close at N2.03 from the previous close of N2.25.
NEM Insurance, BUA Cement, sovereign Trust Insurance and Dangote Cement among other price decliners shed 9.69%, 7.22%, 7.14% and 3.15% respectively.
Volume Drivers
- Zenith Bank traded about 55.6 million units of its shares in 550 deal, valued at N1.37 billion.
- Transcorp Plc traded about 42.7 million units of its shares in 138 deals, valued at N40.97 million.
- FBN Holdings traded about 42.07 million units of its shares in 267 deals, valued at N302.489 million.