The Nigerian stock market on Monday closed on a positive note as the All Share Index appreciated by 0.17% to settle at 39,396.57 points from the previous close of 39,331.61 points. Investors gained N34 billion as the market capitalization grew by 0.17% to N20.612 trillion from the previous close of N20.578.
An aggregate of 297.27 million units of shares were traded in 4,655 deals, valued at N3.15 billion.
The Market Breadth closed positive as 22 equities emerged as gainers against 17 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8 from N7.8. It is trading 23.81% 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 grew to N7.35 from N7.1. 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 N24.9 from N25.3. It is trading 12.63% away from its 52 weeks high of N28.5. There is uptrend potential of 12.63% in the share price of Zenith Bank.
- UBA traded flat at N7.95. 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 traded flat at N31. It is trading 19.38% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO grew by 8.11% to N24 from N22.2. It is trading 23.81% away from its 52 weeks high of N31.5. There is uptrend potential in the share price of Wapco as records have it that it has touched N52 some years back.
Percentage Gainers
Linkage Assurance and Ardova Plc led other gainers with 10% growth to close at N0.55 and N14.85 respectively.
Champions Breweries and Oando Plc among other gainers also grew their share prices by 9.52% and 9.43% respectively.
Percentage losers
Meyer Plc led other price decliners as it shed 10% of its share price to close at N0.45 from the previous close of N0.50.
Livestock Feeds, SCOA and Ikeja Hotels among other price decliners also shed their share prices by 9.87%, 9.85% and 9.48% respectively.
Volume Drivers
- Zenith Bank traded about 64.72 million units of its shares in 986 deals, valued at N1.63 billion.
- FBN Holdings traded about 22.85 million units of its shares in 174 deals, valued at N164.86 million.
- AXA Mansard Insurance traded about 21.37 million units of its shares in 102 deals, valued at N20.92 million.