The equity market for four straight days this week closed on a bearish note as profit taking persist by investors to pitch their tent in the money market at the drop of improved rates in the fixed income space.
The All Share Index on Friday depreciated by 0.06% to settle at 40,186.70 points from the previous close of 40,212.19 points.
The Market Capitalisation closed at N21.026 trillion, down by 0.06% from the previous close of N21.037 trillion, thereby shedding N11 billion
An aggregate of 307.786 million units of shares were traded in 4,393 deals, valued at N2.9 billion.
The Market Breadth closed negative as 16 equities emerged as gainers against 22 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.2 from N8.1. It is trading 21.9% 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 N7.35. It is trading 18.33% 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 N24.7 from N24.1. It is trading 13.33% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to its current share price, Zenith Bank is underpriced.
- UBA grew to N8.3 from N8.00. It is trading 15.31% 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 N30.40 from N30.30. It is trading 20.94% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
Livestock Feeds led other gainers with 9.27% growth, closing at N2.24 from the previous close of N2.05.
Portland Paints, FTN Cocoa and Fidelity Bank among other gainers also grew their share prices by 8.70%, 8.16% and 5.53% respectively.
Percentage losers
Stanbic IBTC led other price decliners as it shed 10% of its share price to close at N38.7 from the previous close of N43.
May & Baker, Champion Breweries and RT Briscoe among other price decliners also shed their share prices by 9.89%, 9.51% and 9.09% respectively.
Volume Drivers
- FBN Holdings traded about 83.73 million units of its shares in 127 deals, valued at N611.23 million.
- UCAP traded about 53.099 million units of its shares in 640 deals, valued at N340.4 million.
- UBA traded about 22.429 million units of its shares in 197 deals, valued at N185.3 million.