The equity market on Tuesday closed on a positive note occasioned by gain in the share price of Dangote Cement by 1.61%.
The All Share Index appreciated by 0.18% to settle at 39,382.96 points from the previous close of 39,312.74 points. Investors gained N36 billion as the Market Capitalisation appreciated by 0.18% to settle at N20.527 trillion from the previous close of N20.491 trillion.
An aggregate of 296.597 million units of shares were traded in 4,265 deals, valued at N3.36 billion.
The Market Breadth closed positive as 21 equities appreciated in their share prices against 17 equities that declined in their share prices.
Percentage Gainers
- Meyer Plc led other gainers with 9.26% growth, closing at N0.57 from the previous close of N0.52.
- Presco and UAC Property among other gainers also grew their share prices by 9.58% and 9.21% respectively.
Percentage Losers
- Regency Assurance led other price decliners as it shed its share price by 8.82% to close at N0.31 from the previous close of N0.34.
- Honeywell Flour and Cutix Plc among other price decliners also shed their share prices by 5.83% and 4.98% respectively.
Volume Drivers
- Access Bank traded about 58.56 million units of its shares in 425 deal, valued at N494.147 million.
- UACN traded about 38.27 million units of its shares in 93 deals, valued at N394.22 million.
- Fidelity Bank traded about 27.15 million units of its shares in 168 deals, valued at about N62.356 million.
Stocks to Watch
- Union Bank: The trending news about the intended purchase of Union Bank by either Access Bank or Zenith Bank moved its share price up by 9.26% yesterday to N5.90. It however dropped today by 3.39% to N5.70 due to profit taking. At the share price of N5.70, Union Bank is trading 18.57% away from its 52 weeks high of N7. The Book Value of Union Bank is currently N9.08.
- Access Bank grew to N8.40 from N8.35. It is trading 20% away from its 52 weeks high of N10.5. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- Zenith Bank grew to N23.25 from N23. It is trading 18.42% 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.
- FBN Holdings dropped to N7.1 from N7.2. It is trading 21.11% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of FBNH. Considering its book value of N21.32, relative to the current share price, shows that FBNH is cheap at the current price.
- UBA grew to N7.3 from N7.25. It is trading 25.51% 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 dropped to N29.55 from N30. It is trading 23.15% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the GT Bank.