The Nigerian equity market on Wednesday closed on a positive note as the All Share Index appreciated by 0.09% to settle at 38,636.15 points from the previous close of 38,601.83 points. Year to date, the market has returned -4.06%.
Investors gained N18 billion as the Market Capitalisation appreciated by 0.09% to settle at N20.215 trillion from the previous close of N20.197 trillion.
An aggregate of 277.96 million units of shares were traded in 3,984 deals valued at N2.27 billion.
The market breadth closed negative as 14 equities emerged on the gainers list while 22 equities declined in their share prices.
Percentage Gainers
Guinness led other gainers with 9.96% growth to close at N26.50 from the previous close of N24.10.
Meyer Plc and Wema Bank among other gainers also grew their share prices by 8.16% and 5.26% respectively.
Percentage losers
Northern Nigeria Flour Mills (NNFM) led other price decliners as it sheds 10% of its share price to close at N5.40 from the previous close of N6.
Fidson Healthcare, Cutix Plc and Sterling Bank among other price decliners also shed their share prices by 9.89%, 9.78% and 8.33% respectively.
Volume Drivers
- Japaul Gold traded about 46.22 million units of its shares in 279 deals, valued at N34.57 million.
- UACN traded about 32.595 million units of its shares in 140 deals, valued at N311.5 million.
- Fidelity Bank traded about 28.47 million units of its shares in 144 deals, valued at N70.73 million.
Stocks to Watch
- Access Bank closed flat at N8.1. It is trading 22.86% 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 N7.55 from N7.40. It is trading 16.11% 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 grew to N22 from N21.90. It is trading 22.81% 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 traded flat at N6.95. It is trading 29.08% 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 N28.80 from N28.95. It is trading 25.1% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N20.90. It is trading 33.65% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.