The market on Friday closed on a negative note, occasioned by 1.84% loss in the share price of MTN. Overall, performance of the market for the week is a positive one as the market returns 2.17% week to date.
The All Share Index on Friday closed lower by 0.20% to settle at 39,216.20 points from the previous close of 39,293.14 points. The Market Capitalisation declined by 0.19% to close at N20.518 trillion from the previous close of N20.558 trillion, thereby shedding N40 billion.
An aggregate of 250.92 million units of shares were traded in 3,746 deals, valued at N2.79 billion.
The Market Breadth closed positive as 20 equities emerged as gainers against 13 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.35 from N8.3. It is trading 20.48% 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 grew to N7.3 from N7.25. It is trading 18.89% 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 traded flat at N22. It is trading 22.81% away from its 52 weeks high of N28.5. There is uptrend potential of 21.05% 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 dropped to N6.8 from N6.85. It is trading 30.10% 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 N31.55 from N31.15. It is trading 17.95% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) grew to N21.50 from N21.15. It is trading 31.75% away from its 52 weeks high of N31.5. There is uptrend potential of 33.65% in the share price of Wapco. The company declared a dividend of N1 per ordinary share to shareholders whose names appear in the Register of Members at the close of business on Friday, 30th April, 2021. For the purpose of the dividend, the Register of Shareholders will be closed from 4th May, 2021 to 7th May, 2021.
Percentage Gainers
Guinness led other gainers with 9.89% growth, closing at N30 from the previous close of N27.3.
Prestige Assurance and Sovereign Trust Insurance among other gainers also grew their share prices by 9.76% and 9.09% respectively.
Percentage losers
FTN Cocoa led other price decliners as it sheds 9.80% of its share price to close at N0.46 from the previous close of N0.51.
Jaiz Bank and Royal Exchange Assurance among other price decliners also shed their share prices by 9.23% and 7.69% respectively.
Volume Drivers
- Union Bank traded about 79.23 million units of its shares in 28 deals, valued at N419.9 million.
- Zenith Bank traded about 21 million units of its shares in 408 deals, valued at N462 million
- Guaranty Trust Bank traded about 19.79 million units of its shares in 317 deals, valued at N619.6 million.