The Nigerian equity market on Thursday closed on a positive note with a marginal growth of 0.01%, making it the 4th consecutive gain this week.
The All Share Index appreciated by 0.01% to settle at 39,131.80 points from the previous close of 39,128.34 points. Investors gained N2 billion as Market Capitalization grew to N20.480 trillion from the previous close of N20.478 trillion.
An aggregate of 228.1 million units of shares were traded in 3,656 deals valued at N2.64 billion.
The market breadth closed positive as 17 equities emerged on the gainers list while 15 equities declined in their share prices.
Percentage Gainers
Cutix Plc led other gainers with 7.0% growth, closing at N2.14 from the previous close of N2.
PZ and Linkage Assurance among other gainers also grew their share prices by 6.93% and 5.00% respectively.
Percentage Losers
EKOCORP Plc led other price decliners as it sheds 10% of its share price to close at N5.4 from the previous close of N6.
Sunu Assurances and Honeywell Flour among other price decliners also shed their share prices by 9.09% and 8.45% respectively.
Volume Drivers
- Guaranty Trust Bank traded about 37.29 million units of its shares in 517 deals, valued at N1.16 billion.
- Zenith Bank traded about 28.75 million units of its shares in 375 deals, valued at N635 million.
- FBNH traded about 22.3 million units of its shares in 161 deals, valued at N164.9 million.
Stocks to Watch
- Access Bank grew to N7.55 from N7.5. It is trading 28.1% 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 grew to N7.4 from N7.3. It is trading 17.78% 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 dropped to N22 from N22.3. 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 grew to N7.4 from N7.25. It is trading 24.49% 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 N31.3 from N31.25. It is trading 18.6% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N21.9. 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.