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Access Bank shares closed trading Wednesday at N5.42 representing a 4% loss. Whilst most stocks lost today, Access Bank’s losses was quite different.
Over 71 million units of Access Bank shares exchanged hands on Wednesday driving the share price lower. In fact, Access Bank has witnessed significant volume of trades in the last one week with over 94 million closing on Monday alone. Monday’s trade also saw the share price close lower.
| Date | Price (Naira) | Volume |
| July 1st 2015 | 5.42 | 71,438,685 |
| June 30th 2015 | 5.65 | 16,939,697 |
| June 29th 2015 | 5.73 | 94,642,313 |
| June 26th 2015 | 5.77 | 26,575,124 |
| June 25th 2015 | 5.94 | 17,244,887 |
| June 24th 2015 | 6.09 | 3,807,719 |
| June 23rd 2015 | 6.1 | 9,480,990 |
Access Bank has now lost 11% in the last one week as against 1.21% for the NSE in the same period. In fact, Access Bank has lost about 44% in the last one year.
So who is dumping?
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With the share price shedding further value despite this large volume it suggest a major investor is exiting. We opine these volumes are perhaps a result of a foreign portfolio investor exiting positions with either a market maker or a proxy mopping up the shares.
Outlook for the share price based on technical analysis also suggest further bearishness for the stock. However, in terms of fundamentals and on the back of its Q1 result the shares at any price under N7 looks attractive for a long term investor.
If Access banks maintains prices below 5.18 Naira, expect more bearish moves. But this will present a buy opportunity for investors looking long term.
Mr. Ugoo, help me figure this out, if i invest 300,000k in a money market fund with a %yield of 13.63, for 3 months, how much will be the ROI?or what will be my returns. I want to be sure. thanks
Hi Ken, I am assuming the 13.63% is per annum. As such, the ROI will be N10,222.5 by my calculation. 13.63% of N300,000 is N40,890 for one year. However, you are investing for 3 months. So you have to divide the interest by 4 to get the interest per quarter. That is how I arrived at the N10,222.5.
Thanks Mr.Ugo, i think you are very correct. Pls how do you see this investment? should i go on and do it, i am doing it with fbn capital.Or do you have another investment better than fbn. Thanks. ken
Thanks Mr Ugo, i think you are very correct. How do you see this investment? should i go on and invest. It is with fbn capital or do you know of a better investment than fbn capital.. thanks. ken
How many shares has onozefe Johnny Lawrence has