The Nigerian stock market on Monday closed on a positive note assisted by growth in the share price of MTN and 27 others.
The All Share Index appreciated by 0.71% to close at 39,493.37 points from the previous close of 39,216.20 points. Investors gained N145 billion as Market Capitalization appreciated by 0.71% to close at N20.663 trillion from the previous close of N20.518 trillion.
An aggregate of 522.17 million units of shares were traded in 4,566 deals, valued at N10.65 billion.
The Market Breadth closed positive as 28 equities emerged as gainers against 12 equities that declined in their share prices.
Stocks to Watch
- Access Bank dropped to N8.30 from N8.35. It is trading 20.95% 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 dropped to N7.25 from N7.3. 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, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N22.05 from N22. It is trading 22.63% away from its 52 weeks high of N28.5. There is uptrend potential of 21.05% 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 N6.9 from N6.8. It is trading 29.59% 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 N32.90 from N31.55. It is trading 14.43% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) grew to N22.05 from N21.50. It is trading 30% away from its 52 weeks high of N31.5. There is uptrend potential of 30% in the share price of Wapco.
Percentage Gainers
Courtville Plc and Custodian Investment led other gainers with 10% growth to close at N0.22 and N6.6 respectively.
Linkage Assurance and Caverton among other gainers also grew their share prices by 9.80% and 9.52% respectively.
Percentage losers
Cornerstone Insurance led other price decliners as it sheds 9.84% of its share price to close at N0.55 from the previous close of N0.61.
Oando and Honeywell Flour among other price decliners also shed their share prices by 6.06% and 4.84% respectively.
Volume Drivers
- Guaranty Trust Bank traded about 230.37 million units of its shares in 443 deals, valued at N7.387 billion.
- Union Bank traded about 79.2 million units of its shares in 57 deals, valued at N419.84 million
- Wema Bank traded about 51.94 million units of its shares in 43 deals, valued at N31.7 million.