The equity market on Thursday reversed from the gain of the previous day, readmitting the Bears; occasioned by the loss in the share price of Dangote Cement by 3.51% to close at N220 from N228.
All Share Index depreciated by 0.60% to settle at 38,697.17 points from the previous close of 38,931.25 points. The market capitalization closed at N20.247 trillion, down by 0.60% from the previous close of N20.369 trillion, thereby shedding N122 billion.
An aggregate of 169.35 million units of shares were traded in 3,568 deals, valued at N2.1 billion.
The Market Breadth closed positive as 23 equities emerged as gainers against 11 equities that declined in their share prices.
Stocks to Watch
- Access Bank traded flat at N7.8. It is trading 25.71% 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 N7.1 from N7.05. It is trading 21.11% 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’s share price dropped to N21.45 from N21.75. It is trading 24.74% away from its 52 weeks high of N28.5. There is uptrend potential of 24.74% in the share price of Zenith Bank.
- UBA dropped to N6.95 from N7. It is trading 29.08% 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 N30.95 from N30.7. It is trading 19.51% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO grew to N22.05 from N22. It is trading 30% away from its 52 weeks high of N31.5. There is uptrend potential in the share price of Wapco as records have it that it has touched N52 some years back.
Percentage Gainers
Smart Product Nigeria Plc led other gainers with 10% growth to close at N0.22 from the previous close of N0.20.
International Breweries, Champion Breweries and Royal Exchange Assurance among other gainers also grew their share prices by 9.89%, 9.09% and 8.33% respectively.
Percentage losers
Africa Alliance Insurance led other price decliners as it shed 8.33% of its share price to close at N0.22 from the previous close of N0.24.
Sovereign Trust Insurance and Mutual Benefit Assurance among other price decliners both shed their share prices by 7.14% respectively.
Volume Drivers
- AIICO Insurance traded about 19.67 million units of its shares in 78 deals, valued at N23.34 million.
- UBA traded about 16.24 million units of its shares in 266 deals, valued at N113.24 million.
- Zenith Bank traded about 11.5 million units of its shares in 431 deals, valued at N247.4 million.