Transactions on the floor of the Nigerian Stock Exchange on Thursday closed on a positive note as the All Share Index appreciated by 2.10% to settle at 36,239.62 points from the previous close of 35,493.15 points.
The bulls run in the market today was occasioned by the 10.0% gain in the price of Airtel Africa and 2.56% gain in the share price of Dangote Cement.
Investors gained N390 billion as Market Capitalization grew to N18.941 trillion from the previous close of N18.551 trillion
An aggregate of 343.64 million units of shares were traded in 3,895 deals, valued at N4.35 billion.
The market breadth closed positive as 30 stocks gained while 17 stocks declined in their share prices.
Stocks to Watch
We have always advised investors to take position in fundamentally sound stocks. We need to continue to look at stocks that will continue to pay good dividend, such that, if you miss capital appreciation, you will be compensated by good dividend. Fourth Quarter (Q4) result is around the corner, investors should consider stocks that are going to have good dividend yield.
- Access Bank grew to N8.35 from N8.30. The stock is currently trading 30.42% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
- FBN Holdings closed flat at N7.00. It is trading 22.22% 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 N24.75 from N24.10. It is trading 13.16% away from its 52 weeks high of N28.5.
- WAPCO dropped to N21.9 from N22. It is trading 15.77% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
- UBA grew to N8.30 from N8.15. It is trading 15.31% away from its 52 weeks high of N9.8. There is growth potential in the share price of the bank.
- Guaranty Trust Bank dropped to N33.75 from N33.95. It is trading 12.22% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Airtel Africa led other gainers with 10% growth to close at N774.4 from the previous close of N704.
Ardova, FTN Cocoa and Unilever Plc among other gainers also grew their share prices by 9.96%, 9.62% and 9.54% respectively.
Percentage Losers
Omatek Ventures and Wapic Insurance led other price decliners as they both shed 9.09% of their share prices to close at N0.20 and N0.40 respectively.
Champions Breweries, University Press and Union Diagnostics among other price decliners also shed their share prices by 8.99%, 7.25% and 6.90% respectively.
Volume Drivers
- FBN Holdings traded about 99.387 million units of its shares in 265 deals, valued at N700.45 million.
- Skyway Aviation traded about 24 million units of its shares in 8 deals, valued at N64 million.
- UBA traded about 22.3 million units of its shares in 193 deals, valued at N187.375 million.