The Nigerian equity market on Thursday readmitted the Bears occasioned by drop in the share price of Dangote Cement and MTN among others. There is also significant reversal in the share prices of insurance stocks.
The All Share Index declined by 0.12% to settle at 41,099.15 points from the previous close of 41,147.72 points. The Market Capitalization closed at N21.499 trillion, down by 0.12% from the previous close of N21.525 trillion; and this translates to a loss of N26 billion.
An aggregate of 1.2 billion units of shares were traded in 7,404 deals, valued at N6.398 billion.
The Market Breadth closed negative as 14 equities emerged as gainers while 50 equities declined in their share prices.
Stocks to Watch
- Access Bank closed flat at N9.25. It is currently trading 15.14% away from its 52 weeks high of N10.9. At that, there is uptrend potential in the share price of Access Bank. With the book value of N19.12, Access Bank is considered cheap at the current share price of N9.25.
- FBN Holdings closed 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 of N7.35, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N26.45 from N26.3. It is trading 7.19% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.45, Zenith Bank has a lot of uptrend potential.
- WAPCO grew to N27.95 from N26.5, setting another record of 52 weeks high. Wapco has the capacity to grow its share price higher as it is on record that it has touched about N52 a few years back.
- UBA dropped to N8.95 from N9.10. It is trading 8.67% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N9.10, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N33 from N33.05. It is trading 14.17% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Multiverse and Northern Nigeria Flour Mills (NNFM) both gained 10% of their share prices to close at N0.22 and N9.68 respectively.
Champions Breweries and NCR Nigeria Plc among other gainers also grew their share prices by 9.88% and 9.65% respectively.
Percentage losers
Chams and Prestige Assurance led other price decliners as they shed 10% of their share prices to close at N0.27 and N0.54 respectively.
Tourist Company of Nigeria Plc, MRS and AXA Mansard among other price decliners also shed their share prices by N2.84, N12.40 and N1.38 respectively.
Volume Drivers
- Transcorp Plc traded about 428.29 million units of its shares in 903 deals, valued at N559.2 million.
- Guaranty Trust Bank traded about 62.05 million units of its shares in 352 deals, valued at N2.048 billion.
- Sovereign Trust Insurance traded about 61.43 million units of its shares in 109 deals, valued at N20.9 million