The market on Monday admitted the Bulls, bringing a halt to the bearish trend occasioned by profit taking.
The All Share Index appreciated by 0.33% to settle at 40,571.67 points from the previous close of 40,439.85 points. Investors gained N69bn as the Market Capitalisation appreciated by 0.33% to close at N21.225 trillion from the previous close of N21.156 trillion.
An aggregate of 206.24 million units of shares were traded in 4,264 deals, valued at N2.16 billion.
The Market Breadth closed positive as 31 equities emerged as gainers against 13 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.5 from N8.15. It is trading 19.07% 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 N7.3 from N7.25. It is trading 18.89% 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 N25.15 from N25. It is trading 11.75% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to its current share price, Zenith Bank is underpriced.
- UBA grew to N8.55 from N8.2. It is trading 12.76% 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 N30.80 from N30.35. It is trading 19.90% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
Seplat led other gainers with 10% growth, closing at N544.5 from the previous close of N495.
Japaul Gold, Mutual Benefit and AIICO Insurance among other gainers also grew their share prices by 9.86%, 9.52% and 9.26% respectively.
Percentage losers
Conoil and Royal Exchange Assurance both led other price decliners as they shed 10% of their share prices to close at N18.9 and N0.27 respectively.
RT Briscoe and Consolidated Hallmark Insurance among other price decliners also shed 9.09% and 8.70% of their share prices respectively.
Volume Drivers
- Zenith Bank traded about 21.5 million units of its shares in 416 deals, valued at N539.6 million.
- Mutual Benefit Assurance traded about 15 million units of its shares in 46 deals, valued at N6.8 million.
- UAC Property traded about 14.83 million units of its shares in 45 deals, valued at N12.07 million.