The equity market for 5 consecutive days this week closed on a positive note as Q1 2021 earnings of quoted companies are being released to the market.
The All Share Index on Friday appreciated by 0.43% to settle at 39,301.82 points from the previous close of 39,131.80 points. Investors gained N88 billion as the Market Capitalisation grew by 0.43% to close at N20.568 trillion from the previous close of N20.480 trillion.
An aggregate of 287 million units of shares were traded in 3,578 deals valued at N3.04 billion.
The market breadth closed positive as 32 equities emerged on the gainers list while 9 equities declined in their share prices.
Percentage Gainers
Tripple Gee and Company Plc led other gainers with 9.23% growth, closing at N0.71 from the previous close of N0.65.
Stanbic IBTC and Sovereign Trust Insurance among other gainers also grew both grew their share prices by 8.70% respectively.
Percentage Losers
Union Dicon Salt Plc led other price decliners as it sheds 9.59% of its share price to close at N9.90 from the previous close of N10.95.
Linkage Assurance and Cornerstone Insurance among other price decliners also shed their share prices by 4.76% and 3.70% respectively.
Volume Drivers
- Access Bank traded about 46.788 million units of its shares in 346 deals, valued at N351.76 million.
- Guaranty Trust Bank traded about 42.67 million units of its shares in 336 deals, valued at N1.33 billion.
- Linkage Assurance traded about 29.28 million units of its shares in 53 deals, valued at N23.72 million.
Stocks to Watch
- Access Bank dropped to N7.50 from N7.55. It is trading 28.57% away from its 52 weeks high of N10.5. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- FBN Holdings grew to N7.45 from N7.4. It is trading 17.22% 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 N21.32, relative to the current share price, shows that FBNH is cheap at the current price.
- Zenith Bank grew to N22.3 from N22. It is trading 21.75% 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 N7.5 from N7.4. It is trading 23.47% away from its 52 weeks high of N9.8. With the book value of N21.17 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N31.2 from N31.3. It is trading 18.86% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) grew to N22.3 from N21.9. It is trading 29.21% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.