Market sheds N79bn as NSEASI dips by 0.37% WtD

Transactions on the floor of the Nigerian Stock Exchange last week closed on a negative note as the NSE All-Share Index and Market Capitalization depreciated by 0.37% to close the week at 40,120.22 and N20.978 trillion respectively.

An aggregate of 3.394 billion shares worth N19.867 billion in 26,808 deals were traded last week by investors on the floor of the Exchange, in contrast to a total of 1.806 billion shares valued at N25.966 billion that exchanged hands the previous week in 14,634 deals.

The Consumer Goods Industry (measured by volume) led the activity chart with 2.026 billion shares valued at N7.503 billion traded in 4,031 deals; thus contributing 59.70% and 37.77% to the total equity turnover volume and value respectively. The Financial Services Industry followed with 939.288 million shares worth N7.820 billion in 14,020 deals. The third place was Conglomerates Industry, with a turnover of 139.882 million shares worth N182.151 million in 885 deals.

Trading in the top three equities namely Champion Breweries Plc, Transnational Corporation of Nigeria Plc and Access Bank Plc (measured by volume) accounted for 2.144 billion shares worth N6.002 billion in 1,971 deals, contributing 63.18% and 30.21% to the total equity turnover volume and value respectively.

All other indices finished higher with the exception of NSE Premium, NSE Lotus II and NSE Industrial Goods which depreciated by 2.99%, 1.22% and 2.29% while the NSE ASeM and NSE Growth Indices closed flat.

Fifty (50) equities appreciated in price during the week, higher than thirty- two (32) equities in the previous week. Twenty- one (21) equities depreciated in price, lower than thirty- two (32) equities in the previous week, while ninety (90) equities remained unchanged, lower than ninety-seven (97) recorded in the previous week.

Stocks to Watch

  • Access Bank grew to N9.05 from N8.8. It is currently trading 24.58% away from its 52 weeks high of N12. At that, there is uptrend potential in the share price of Access Bank.
  • FBN Holdings grew to N7.45 from N7.35. It is trading 17.22% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
  • Zenith Bank grew to N25.65 from N25.3. It is trading 10% away from its 52 weeks high of N28.5.
  • WAPCO dropped to N22.3 from N22.4. It is trading 14.23% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
  • UBA grew to N8.85 from N8.6. It is trading 9.69% away from its 52 weeks high of N9.8.
  • Guaranty Trust Bank traded flat at N33. It is trading 14.17% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.

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