The Nigerian stock market on Wednesday readmitted the Bulls occasioned by 3.64% gain in the share price of Dangote Cement.
The All Share Index appreciated by 0.63% to settle at 38,931.25 points from the previous close of 38,686.85 points. Investors gained N128 billion as market capitalization grew by 0.63% to close at N20.369 trillion from the previous close of N20.241 trillion.
An aggregate of 368.2 million units of shares were traded in 4,437 deals, valued at N4.91 billion.
The Market Breadth closed firm as 23 equities emerged as gainers against 23 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N7.8 from N7.75. 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 dropped to N7.05 from N7.25. It is trading 21.67% 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 stands at N21.75. It is trading 23.68% away from its 52 weeks high of N28.5. There is uptrend potential of 23.68% in the share price of Zenith Bank.
- UBA dropped to N7 from N7.2. It is trading 28.57% 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 N30.7 from N31. It is trading 20.16% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO closed at N22. It is trading 30.16% 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
Morison Industries led other gainers with 9.72% growth to close at N0.79 from the previous close of N0.72.
Champion Breweries, Neimeth Pharmaceuticals and Mutual Benefit Assurance among other gainers also grew their share prices by 8.91%, 8.85% and 7.69% respectively.
Percentage losers
Consolidated Hallmark Insurance led other price decliners as it shed 10% of its share price to close at N0.27 from the previous close of N0.30.
Eterna Plc, Conoil and Northern Nigeria Flour Mills (NNFM) among other price decliners also shed their share prices by 9.94%, 9.79% and 9.65% respectively.
Volume Drivers
- UBA traded about 74.84 million units of its shares in 478 deals, valued at N523.36 million.
- FBN Holdings traded about 65.36 million units of its shares in 286 deals, valued at N467.82 million.
- Guaranty Trust Bank traded about 34.34 million units of its shares in 248 deals, valued at N1.06 billion.