The Nigerian stock market on Tuesday closed on a positive note occasioned by the outcome of the Monetary Policy Committee’s decision to retain key lending rates. The Monetary Policy Rate (MPR) is retained at 11.5%. Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.
The All Share Index appreciated by 1.21% to settle at 41,584.94 points from the previous close of 41,088.96 points. Investors gained N260 billion as Market Capitalisation grew by 1.21% to N21.754 trillion from the previous close of N21.494 trillion.
An aggregate of 467.89 million units of shares were traded in 5,990 deals, valued at N5.566 billion.
The Market Breadth closed positive as 32 equities emerged as gainers while 19 equities declined in their share prices.
Stocks to Watch
- Access Bank grew to N9.25 from N9.20. It is currently trading 11.90% away from its 52 weeks high of N10.5. At that, there is uptrend potential in the share price of Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price of N9.25.
- FBN Holdings traded flat at N7.40. 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 N19.84, relative to the current share price of N7.40, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank dropped to N26.25 from N26.50. It is trading 7.89% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.25, Zenith Bank has a lot of uptrend potential.
- WAPCO grew to N27.5 from N26.50. It is trading 1,61% away from its 52 weeks high of N27.95. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA grew to N8.80 from N8.75. It is trading 10.20% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.8, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N33.15 from N33.1. It is trading 13.78% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
RT Briscoe Plc led other gainers with 10% growth to close at N0.22 from the previous close of N0.20.
Champion Breweries, Universal Insurance and Africa Alliance Insurance among other gainers also grew their share prices by 9.81%, 9.52% and 9.09% respectively.
Percentage losers
John Holt led other price decliners as it shed 10% of its share price to close at N0.45 from the previous close of N0.50.
Japaul, Seplat and Academy Press among other price decliners also shed their share prices by 9.30%, 9.26% and 9.09% respectively.
Volume Drivers
- Transcorp Plc traded about 45.93 million units of its shares in 151 deals, valued at N50.597 million.
- AXA Mansard traded about 34.73 million units of its shares in 171 deals, valued at N48.637 million.
- Japaul Gold traded about 29.44 million units of its shares in 197 deals, valued at N23.043 million.