The equity market on Friday closed a positive note occasioned by gain in the share prices of Dangote Cement and MTN by 2.33% and 1.24% respectively.
The All Share Index appreciated by 0.61% to settle at 38,808.01 points from the previous close of 38,571.89 points. Investors gained N124 billion as the market capitalization appreciated by 0.61% to close at N20.310 trillion from the previous close of N20.186 trillion.
An aggregate of 262.51 million units of shares were traded in 3,525 deals valued at N2.438 billion.
The market breadth closed positive as 23 equities emerged on the gainers list while 11 equities declined in their share prices.
Percentage Gainers
Chams Plc led other gainers with 10% growth to close at N0.22 from the previous close of N0.20.
UAC Property and Guinness among other gainers also grew their share prices by 9.72% and 9.26% respectively.
Percentage losers
Japaul Gold led other price decliners as it sheds 10% of its share price to close at N0.63 from the previous close of N0.70.
Sterling Bank, FCMB and Mutual Benefit Assurance among other price decliners also shed their share prices by 9.76%, 8.90% and 8.11% respectively.
Volume Drivers
- Fidelity Bank traded about 46.15 million units of its shares in 179 deals, valued at N110.56 million.
- FBN Holdings traded about 33.99 million units of its shares in 209 deals, valued at N258.398 million.
- Guaranty Trust Bank traded about 33.47 million units of its shares in 237 deals, valued at N965.28 million.
Stocks to Watch
- Guinness grew to N31.85 from N29.15. It is trading 11.53% away from its 52 weeks high of N36. For three straight days, the share price of Guinness has been trending up. On the technical chart, a BUY is recommended for Guinness.
- Access Bank’s share pricewas marked down for dividend. At the share price of N7.6, it is trading 27.62% 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 traded flat at N7.6. 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 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 N21.5 from N21.80. It is trading 24.56% 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 N6.95 from N6.8. It is trading 29.08% 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 N29.15 from N28.75. It is trading 24.19% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) grew to N20.50 from N20.25. It is trading 34.92% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.