The equity market on Friday closed on a bearish note as the All Share Index depreciated by 0.08% to settle at 39,331.61 points from the previous close of 39,364.67 points. The market capitalization closed at N20.578 trillion, down by 0.09% from the previous close of N20.596 trillion thereby shedding N18 billion.
An aggregate of 587.74 million units of shares were traded in 4,895 deals, valued at N13.62 billion.
The Market Breadth closed negative as 20 equities emerged as gainers against 27 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 traded flat at N25.3. It is trading 11.23% away from its 52 weeks high of N28.5. Zenith declared a final dividend of N2.70 per share to its shareholders, which in addition to the 30 kobo per share as interim dividend amounts to N3.00 per share.
- UBA traded flat at N7.95. It is trading 18.88% 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 N31 from N31.5. It is trading 19.38% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
Morison Industries led other gainers with 10% growth to close at N0.66 from the previous close of N0.6.
WAPCO and NEM Insurance among other gainers also grew their share prices by 9.90% and 9.88% respectively.
Percentage losers
TrippleG and Trans-Nationwide Express led other price decliners as they said 10% for their share prices to close at N0.72 and N0.81 respectively.
Union Homes Real Estate Investment Trust and Cutix Plc among other price decliners also shed their share prices by 9.96% and 9.95% respectively.
Volume Drivers
- AXA Mansard traded about 282.32 million units of its shares in 117 deals, valued at N282.42 million.
- Zenith Bank traded about 46.85 million units of its shares in 833 deals, valued at N1.177 billion.
- FBN Holdings Plc traded about 26.5 million units of its shares in 178 deals, valued at N185.947 million.