The Nigerian stock market on Thursday closed on a negative note as the All Share Index depreciated by 0.40% to settle at 39,364.67 points from the previous close of 39,522.06 points. The market capitalization closed at N20.596 trillion, down by 0.40% from the previous close of N20.678 trillion, thereby shedding N82 billion.
An aggregate of 493.17 million units of shares were traded in 5,486 deals, valued at N4.72 billion.
The Market Breadth closed negative as 12 equities emerged as gainers against 47 equities that declined in their share prices.
Stocks to Watch
- Access Bank dropped to N7.8 from N8.00. It is trading 25.71% 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 N7.05 from N7.1. It is trading 21.67% 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 N25.3 from N25.55. It is trading 11.23% 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.
- UBA dropped to N7.95 from N8.25. It is trading 18.88% 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 N31.5 from N31.7. It is trading 18.08% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
University Press led other gainers with 9.91% growth to close at N1.22 from the previous close of N1.11.
Morison Industries, CAP Plc and WAPCO among other gainers also grew their share prices by 9.09%, 5.26% and 3.59% respectively.
Percentage losers
Fidson Healthcare led other price decliners as it shed 10% of its share price to close at N4.41 from the previous close of N4.90.
This is followed by Northern Nigerian Flour Mills (NNFM) as it shed 9.97% of its share price to close at N6.32 from the previous close of N7.02.
Nigerian Enamelware Plc and NEM Insurance among other price decliners also shed their share prices by 9.95% respectively.
Volume Drivers
- Universal Insurance traded about 83.26 million units of its shares in 11 deals, valued at N16.65 million.
- Zenith Bank traded about 38.65 million units of its shares in 693 deals, valued at N983.25 million.
- FBN Holdings Plc traded about 31.25 million units of its shares in 252 deals, valued at N216.72 million.