The Nigerian stock market on Thursday continued its uptrend as the All Share Index appreciated by 0.57% to settle at 42,169.41 points from the previous close of 41,930.73 points. Investors gained N125 billion as Market Capitalisation grew by 0.57% to N22.059 trillion from the previous close of N21.934 trillion.
An aggregate of 555.32 million units of shares were traded in 6,386 deals, valued at N5.76 billion.
The Market Breadth closed positive as 28 equities emerged as gainers while 22 equities declined in their share prices.
Stocks to Watch
- Access Bank closed flat at N9.35. It is currently trading 10.95% away from its 52 weeks high of N10.5. At that, there is uptrend potential in the share price of Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price of N9.35.
- FBN Holdings closed flat at N7.60. It is trading 15.56% 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 of N7.60, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N27.2 from N26.40. It is trading 4.56% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N27.2, Zenith Bank is underpriced and has growth potentials.
- WAPCO grew to N30.3 from N29.5. It touch another year high of N31.5 today but eventually closed at N30.3. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA grew to N9.05 from N9. It is trading 7.65% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N9.05, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N34 from N33.2. It is trading 11.57% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Portland Paints led other gainers with 10% growth to close at N3.19 from the previous close of N2.90.
Julius Berger, NPF Microfinance Bank and Champion Breweries among other gainers also grew their share prices by 9.95%, 9.71% and 9.69% respectively.
Percentage losers
Academy Press led other price decliners as it shed 10% of its share price to close at N0.36 from the previous close of N0.40. This is followed by Sovereign Trust Insurance with a share price decline of 9.68% to close at N0.28 from the previous close of N0.31.
Cornerstone Insurance, Caverton and Universal Insurance among other price decliners also shed their share prices by 9.72%, 9.41% and 8.70% respectively.
Volume Drivers
- Transcorp Plc traded about 76.178 million units of its shares in 236 deals, valued at N81.82 million.
- Union Bank traded about 75.906 million units of its shares in 45 deals, valued at N432.799 million.
- Zenith traded about 35.226 million units of its shares in 442 deals, valued at N936.78 mllion.