Business
Market rebounds with 0.33% growth, investors gain N69bn
Adebayo Obajemu
The Nigerian stock market on Monday admitted the Bulls occasioned by impressive Full Year 2020 earnings and corporate actions on dividend payout that flooded the market.
The All Share Index appreciated by 0.33% to settle at 39,931.63 points from the previous close of 39,799.89 points. Investors gained N69 billion as market capitalization grew by 0.33% to close at N20.892 trillion, from the previous close of N20.823 trillion.
An aggregate of 543.99 million units of shares were traded in 4,673 deals, valued at N1.89 billion.
The Market Breadth closed negative as 12 equities emerged as gainers against 29 equities that declined in their share prices.
Stocks to Watch
Access Bank dropped to N8.15 from N8.25. It is trading 22.38% 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 N7.35. 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 grew to N25.80 from N25.45. It is trading 9.47% 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 grew to N8.35 from N8.15. It is trading 14.8% 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 19.78% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
UACN led other gainers with 6.67% growth to close at N8 from the previous close of N7.5.
AIICO Insurance, Veritas Kapital and BUA Cement among other gainers also grew their share prices by 5.22%, 5.00% and 3.82% respectively.
Percentage losers
NASCON Allied Industries led other price decliners as it shed 9.97% of its share price to close at N14.45 from the previous close of N16.05.
Champions Breweries, PZ and LASACO among other price decliners also shed their share prices by 9.92%, 9.43% and 8.94% respectively.
Volume Drivers
Wema Bank traded about 369.68 million units of its shares in 72 deals, valued at N240.32 million.
Zenith Bank traded about 20.62 million units of its shares in 530 deals, valued at N529 million.
Transcorp Plc traded about 13 million units of its shares in 109 deals, valued at N11.48 million