NSE

Adebayo Obajemu

The Nigerian stock market on Thursday closed the year on a positive note, crossing the 40,000 points and market capitalization hitting N21 trillion. Year to date, the market has returned 50.03%.

The All Share Index grew by 1.92% to settle at 40,270.72 points from the previous close of 39,512.31 points. Investors gained Nbn as market capitalization appreciated by 1.92% to N21.057 trillion from the previous close of N20.660 trillion.

An aggregate of 710.7 million units of shares were traded in 4,396 deals, valued at N10.08 billion.

The market breadth closed negative as 18 stocks appreciated in their share prices against 24 stocks that declined in their share prices.

Stocks to Watch

Investors should continue to pitch their tent with fundamentally sound stocks. As the market anticipates dividends declaration season, investors should take advantage of stocks with good dividend yield.

Access Bank dropped N8.45 from N8.75. It is currently trading 29.58% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
FBN Holdings dropped N7.15 from N7.2. It is trading 20.56% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
Zenith Bank dropped to N24.8 fromN24.95. It is trading 12.98% away from its 52 weeks high of N28.5.
WAPCO grew to N21.05 from N21. It is trading 19.04% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
UBA grew to N8.65 from N8.55. It is trading 11.73% away from its 52 weeks high of N9.8. There is growth potential in the share price of the bank.
Guaranty Trust Bank dropped to N32.35 from N32.5. It is trading 15.86% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers

BOC Gases Plc led other gainers with 10% growth to close at N9.57 from the previous close of N8.7.

Northern Nigeria Flour Mills, C&I Leasing, FCMB, BUA Cement and NEM Insurance among other gainers also grew their share prices by 9.95%, 9.94%, 9.90%, 9.87% and 9.82% respectively.

Percentage Losers

FTN Cocoa led other price decliners as it shed 9.59% of its share price to close at N0.66 from the previous close of N0.73.

Eternal Plc, AIICO Insurance and International Breweries among other price decliners also shed their share prices by 9.09%, 8.87% and 8.32% respectively.

Volume Drivers

AIICO Insurance traded about 205.998 million units of its shares in 38 deals, valued at N234.23 million.
Access Bank traded about 99.65 million units of its shares in 308 deals, valued at N898.55 million.
Japaul Gold traded about 85.74 million units of its shares in 271 deals, valued at N49.59 million

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