Five Stocks to watch in a down trending market

  • NSEASI dips further, closes 2.33% lower, Wednesday

The Nigerian Bourse on Wednesday closed in red as the All Share Index declined further by 2.33% to close at 29,336.80 points from the previous close of 30,036.15 points on Tuesday

Market capitalisation declined by 2.33% to close at N10.940 trillion against the previous close of N11.201 trillion.

Volume of traded stocks grew by 8.62% to close at 234.9 million units while value of traded stocks declined by 15.88% to close at 2.25 billion.

Market Breadth

Market breadth closed negative as 14 stocks gained against 19 stocks that lost.

Percentage Gainers

Julius Berger with 10% growth led other gainers to close at N25.85 from the previous close of N23.5

Unilever, UCAP, FCMB and Fidelity Bank among other gainers  also grew 9.63%, 6.87%, 6.25% and 5.56% of their share prices.

Percentage Losers

University Press (UPL) led the losers’ chart, shedding 10% of its share price to close at N1.89 form the previous close of N2.1

NEM Insurance, Champions Breweries, Eterna Plc and Neimeth  among other decliners shed 9.91%, 9.88%, 9.20% and  9.09% respectively.

Volume Drivers

Diamond Bank traded about 54.67 million units of its shares in 193 deals, valued at about N103.9 million.

Guaranty Trust Bank traded about 27.68 million units of its shares in 341 deals, valued at about N865.7 million.

Stocks to watch

Investors should look be on the lookout for the following stocks based on the performances of their third quarter 2018 results:

  • UBA
  • FBNH
  • FCMB


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