The equity market for five straight days this week closed on a bearish note occasioned by profit taking and portfolio realignment by investors.
The All Share Index on Friday depreciated by 0.18% to settle at 41,709.09 points from the previous close of 41,785.80 points.
The market capitalization closed at N21.819 trillion, down by 0.18% from the previous close of N21.859 trillion, thereby shedding N40 billion.
An aggregate of 482.186 million units of shares were traded in 5,998 deals, valued at N5.58 billion.
The Market Breadth closed negative as 14 equities emerged as gainers while 37 equities declined in their share prices.
Stocks to Watch
- Access Bank dropped to N8.55 from N8.9. It is currently trading 18.57% away from its 52 weeks high of N10.5. With the book value of N19.12, Access Bank is considered cheap at the current share price of N8.55.
- FBN Holdings dropped to N7.25 from N7.35. 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 of N7.25, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank dropped to N26 from N26.75. It is trading 8.77% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26, Zenith Bank is underpriced.
- WAPCO dropped to N26.65 from N27.65. It is trading 15.40% away from its 52 weeks high of N31.5. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA dropped to N8.45 from N8.75. It is trading 13.78% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.45, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N36 from N33. It is trading 6.37% away from its 52 weeks high of N38.45.
Percentage Gainers
Northern Nigerian Flour Mills (NNFM) led other gainers with 9.97% growth, closing at N8.65 from the previous close of N7.88.
Guaranty Trust Bank grew its share price by 9.09% to close at N36 from the previous close of N33. Africa Alliance Insurance and Multiverse also gained 9.09% to close at N0.24 respectively.
Percentage losers
Portland Paints and Pharma-Deko Plc both led the price decliners as they shed 10% of their share prices to close at N3.15 and N1.35 respectively.
Volume Drivers
- Union Bank traded about 78.23 million units of its shares in 37 deals, valued at N453.72 million.
- Zenith Bank traded about 52.78 million units of its shares in 660 deals, valued at N1.37 billion.
- Transcorp traded about 31.17 million units of its shares in 128 deals, valued at N31.274 million.