The equity market on Wednesday sustained its positive vibration with 0.29% growth, making it the third consecutive time the market will close in green this week.
The All Share Index appreciated by 0.29% to settle at 39,128.34 points from the previous close of 39,015.58 points. Investors gained N59 billion as the market capitalization grew by 0.29% to close at N20.478 trillion from the previous close of N20.419 trillion.
An aggregate of 239.25 million units of shares were traded in 3,746 deals valued at N1.66 billion.
The market breadth closed positive as 22 equities emerged on the gainers list while 21 equities declined in their share prices.
Percentage Gainers
Conoil led other gainers with 9.97% growth, closing at N18.75 from the previous close of N17.05.
Studio Press and Eterna Plc among other gainers also grew their share prices by 9.88% and 9.48% respectively.
Percentage losers
Guinness led other price decliners as it sheds 9.89% of its share price to close at N28.70 from the previous close of N31.85.
Portland Paints and Academy Press among other price decliners also shed their share prices by 9.85% and 9.76% respectively.
Volume Drivers
- Access Bank traded about 28.177 million units of its shares in 255 deals, valued at N213.188 million.
- Fidelity Bank traded about 17.171 million units of its shares in 199 deals, valued at N38.425 million.
- Mutual Benefit Assurance traded about 16.813 million units of its shares in 29 deals, valued at N6 million.
Stocks to Watch
- Access Bank traded flat at N7.5. It is trading 28.57% away from its 52 weeks high of N10.5. A position in Access Bank has an upside potential of 27.62%, relative to its year high of N10.50. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- FBN Holdings was marked down for dividend. At the share price of N7.3, it is trading 18.89% 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 N21.32, 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 N22.3 from N22.25. It is trading 21.75% away from its 52 weeks high of N28.5. There is uptrend potential in the share price of Zenith Bank. With the book value of N35.59 relative to the current share price, Zenith Bank is considered cheap.
- UBA grew to N7.25 from N7.1. It is trading 26.02% away from its 52 weeks high of N9.8. With the book value of N21.17 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N31.25 from N30. It is trading 18.73% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) grew by 6.83% to N21.9 from N20.5. It is trading 30.48% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.