The Nigerian stock market on Wednesday readmitted the Bulls for the second time this week from a marginal decline of 0.05% on Tuesday, occasioned by gain in the share prices of MTN and Dangote Cement by 2.42% and 2.27% respectively.
The All Share Index appreciated by 0.98% to settle at 39,085.78 points from the previous close of 38,704.97 points. Investors gained N199 billion as Market Capitalisation closed at N20.450 trillion from the previous close of N20.251 trillion.
An aggregate of 361.9 million units of shares were traded in 4,018 deals, valued at N5.7 billion.
The Market Breadth closed positive as 20 equities emerged as gainers against 16 equities that declined in their share prices.
Stocks to Watch
Stanbic IBTC led other gainers at the close of traded today with 9.99% growth, closing at N48.45 from N44.05. It touched a new 52 weeks high of N48.45.The holding company declared a final dividend of N3.60 in its published audited report for FY’20. A bonus of one new Ordinary Share for every six existing Ordinary Shares held by Shareholders is also proposed by Stanbic IBTC Holdings Plc.Access Bank dropped to N8.20 from N8.25. It is trading 21.90% 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. A position in Access Bank has an upside potential of 21.90%.FBN Holdings grew to N7.25 from N7.20. It is trading 19.44% 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 traded flat at N22. It is trading 22.81% away from its 52 weeks high of N28.5. There is uptrend potential of 21.05% in the share price of Zenith Bank. With the book value of N35.59 relative to the current share price, Zenith Bank is considered cheap.UBA traded flat at N6.9. It is trading 29.59% 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 from N31.05. It is trading 19.38% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.WAPCO dropped to N20.9 from N22.5. It is trading 33.65% away from its 52 weeks high of N31.5. There is uptrend potential of 33.65% in the share price of Wapco. The company declared a dividend of N1 per ordinary share to shareholders whose names appear in the Register of Members at the close of business on Friday, 30th April, 2021. For the purpose of the dividend, the Register of Shareholders will be closed from 4 th May, 2021 to 7th May, 2021.
Stanbic IBTC led other gainers with 9.99% growth, closing at N48.45 from the previous close of N44.05. The holding company today declared a final dividend of N3.60 in its published audited report for FY’20. A bonus of one new Ordinary Share for every Six existing Ordinary Shares held by Shareholders is also proposed by Stanbic IBTC Holdings Plc.
NPF Microfinance Bank and Cornerstone Insurance among other gainers also grew their share prices by 9.60% and 8.93%.
MRS led other price decliners as it sheds 9.70% of its share price to close at N12.1 from the previous close of N13.4.
Coronation Insurance and Wapco among other price decliners also shed their share prices by 9.09% and 7.11% respectively.
Union Bank traded about 79.35 million units of its shares in 39 deals, valued at N420.53 million.Guaranty Trust Bank traded about 72.62 million units of its shares in 485 deals, valued at N2.259 billion.Veritas Kapital Plc traded about 50.25 million units of its shares in 21 deals, valued at N10.525 million