The equity market on Thursday closed on a positive note as the All Share Index appreciated by 0.07% to close at 38,799.83 points from the previous close of 38,774.03 points.
The Market Capitalisation appreciated by 0.06%, closing at N20.300 trillion from the previous close of N20.287 trillion, which translates to N13 billion gain.
An aggregate of 145.33 million units of shares were traded in 3,525 deals, valued at N1.576 billion.
The Market Breadth closed positive as 13 equities emerged as gainers against 12 equities that declined in their share prices.
Percentage Gainers
Consolidated Hallmark Insurance led other gainers with 9.68% growth to close at N0.34 from the previous close of N0.31.
Japaul Gold, Oando and AIICO Insurance among other gainers also grew their share prices by 9.43%, 5.16% and 5.00% respectively.
Percentage losers
Royal Exchange Assurance led other price decliners as it sheds 7.69% of its share price to close at N0.36 from the previous close of N0.39.
Jaiz Bank and Honeywell Flour among other price decliners also shed their share prices by 6.06% and 5.04% respectively.
Volume Drivers
- FBN Holdings Plc traded about 21.85 million units of its shares in 217 deals, valued at N157.18 million.
- Guaranty Trust Bank traded about 20.50 million units of its shares in 273 deals, valued at N589.17 million
- Zenith Bank traded about 17.58 million units of its shares in 339 deals, valued at N379.88 million.
Stocks to Watch
- Access Bank grew to N8.00 from N7.90. It is trading 23.81% 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 traded flat at N7.25. It is trading 19.44% 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 N21.8 from N21. It is trading 23.51% 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 from N6.95. It is trading 28.57% 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 grew to N28.75 from N28. It is trading 25.23% 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. It is trading 33.33% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.