The Nigerian equity market on Thursday admitted the Bulls occasioned by growth in the share prices of 23 equities. The All Share Index appreciated by 0.54% to settle at 38,914.84 points from the previous close of 38,706.13 points. Investors gained N109 billion as Market Capitalisation closed at N20.360 trillion from the previous close of N20.251 trillion.
An aggregate of 1.468 billion units of shares were traded in 4,040 deals, valued at N5.85 billion.
The Market Breadth closed positive as 22 equities emerged as gainers against 12 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N7.85 from N7.8. It is trading 25.24% 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 traded flat at N7.2. It is trading 20% 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 grew to N22 from N20.50. It is trading 22.81% away from its 52 weeks high of N28.5. There is uptrend potential of 24.74% 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 N7.1 from N7. It is trading 27.55% 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 N29.8 from N28. It is trading 22.5% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO grew to N22.6 from N22. It is trading 28.25% 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
Eterna Plc led other gainers with 9.96% growth to close at N5.08 from the previous close of N4.62.
LASACO, Zenith Bank and Guaranty Trust Bank among other gainers also grew their share price by 8.33%. 7.32% and 6.43% respectively.
Percentage losers
Linkage Assurance and Coronation Insurance Plc led other price decliners as they shed 9.09% of their share prices respectively.
ABC Transport and Sterling Bank among other price decliners shed their share prices by 6.67% and 6.37% respectively.
Volume Drivers
- Unity Bank traded about 1 billion units of its shares in 30 deals, valued at N700.69 million.
- Multiverse traded 200.19 million units of its shares in 6 deals, valued at N40.04 million.
- Guaranty Trust Bank traded about 122.18 million units of its shares in 445 deals, valued at N3.55 billion.