The Nigerian equity market on Friday closed on a negative note as profit taking persist by investors, occasioned by improved rates in the money market and fixed income space.
The All Share Index depreciated by 0.74% to settle at 39,799.89 points from the previous close of 40,095.49 points. The Market Capitalisation closed at N20.823 trillion, down by 0.74% from the previous close of N20.978 trillion, thereby shedding N155 billion.
An aggregate of 507.25 million units of shares were traded in 4,465 deals, valued at N2.44 billion.
The Market Breadth closed negative as 17 equities emerged as gainers against 24 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.25 from N8.1. It is trading 21.43% 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 dropped to N25.45 from N25.85. It is trading 10.7% away from its 52 weeks high of N28.5. Zenith declared a final dividend of N2.70 per share to its shareholders, which in addition to the 30 kobo per share as interim dividend amounts to N3.00 per share. At the share price of N25.45, dividend yield for Zenith Bank stands at 10.61%.
- UBA dropped to N8.15 from N8.2. It is trading 16.84% 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 dropped to N31 from N31.05. It is trading 19.78% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
LASACO led other gainers with 9.82% growth to close at N1.23 from the previous close of N1.12.
Mutual Benefit Assurance and Courteville among other gainers also grew their share prices by 8.11% and 5.00% respectively.
Percentage losers
Champions Breweries and Wema Bank led other price decliners as they shed 10% of their share prices to close at N2.52 and N0.63 respectively.
Sunu Assurances, Africa Prudential Plc and AXA Mansard Insurance among other price decliners also shed their share prices by 9.59%, 5.74% and 5.36% respectively.
Volume Drivers
- Wema Bank traded about 304.53 million units of its shares in 58 deals, valued at N197.268 million.
- FBN Holdings traded about 30.75 million units of its shares in 219 deals, valued at N226 million.
- Zenith Bank traded about 26.6 million units of its shares in 555 deals, valued at N677.41 million.