Adebayo Obajemu

The equity market on Thursday readmitted the Bears occasioned by the improved yield in the Treasury Bills and Bonds market space as Thursday’s Nigerian Treasury Bills Primary Market auction stop rates sustained upward momentum across all tenors.

The All Share Index closed at 40,095.49 points, down by 0.31% from the previous close of 40,221.30 points. The Market Capitalisation depreciated by 0.31% to N20.978 trillion from the previous close of N21.044 trillion, thereby shedding N66 billion.

An aggregate of 326 million units of shares were traded in 4,567 deals, valued at N3.71 billion.

The Market Breadth closed firm as 14 equities emerged as gainers against 24 equities that declined in their share prices.

Stocks to Watch

Access Bank dropped to N8.1 from N8.50. It is trading 22.86% 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 N7.35 from N7.40. 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 N25.85 from N26.3. It is trading 9.3% away from its 52 weeks high of N28.5. The financial giant 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. At the share price of N25.85, dividend yield for Zenith Bank stands at 10.44%.
UBA dropped to N8.2 from N8.55. It is trading 16.33% 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 N31.05. It is trading 19.25% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers

Chams Plc led other gainers with 9.09% growth to close at N0.24 from the previous close of N0.22.

Royal Exchange Assurance and Wema Bank among other gainers also grew their share prices by 8.00% and 7.69% respectively.

Percentage losers

LASACO led other price decliners as it shed 9.68% of its share price to close at N1.12 from the previous close of N1.24.

Fidson Healthcare and Ecobank Transnational Incorporated among other price decliners also shed their share prices by 8.41% and 6.31% respectively.

Volume Drivers

Transcorp Plc traded about 48.44 million units of its shares in 136 deals, valued at N43.73 million.
Dangote Sugar traded about 33.89 million units of its shares in 253 deals, valued at N611.83 million.
UBA traded about 27.47 million units of its shares in 226 deals, valued at N229.57 million