Transactions on the floor of the Nigerian Stock Exchange on Wednesday closed on a negative note as the All Share Index declined by 0.04% to close at 38,706.13 points against the previous close of 38,720.81 points. The Market Capitalisation closed at N20.251 trillion, down by 0.04% from the previous close of N20.259 trillion, thereby shedding N8 billion.
An aggregate of 177.4 million units of shares were traded in 4,103 deals, valued at N2.68 billion.
The Market Breadth closed positive as 13 equities emerged as gainers against 12 equities that declined in their share prices.
Stocks to Watch
- Access Bank traded flat at N7.8. It is trading 25.71% 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.
- FBN Holdings dropped to N7.2 from N7.3. It is trading 20% 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’s share price grew to N20.50 from N20.30. It is trading 28.07% away from its 52 weeks high of N28.5. There is uptrend potential of 24.74% 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 N7. It is trading 28.57% 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 N28 from N28.5. It is trading 27.18% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO traded flat at N22. It is trading 30.16% away from its 52 weeks high of N31.5. There is uptrend potential in the share price of Wapco as records have it that it has touched N52 some years back.
Percentage Gainers
Coronation Insurance Plc led other gainers with 10% growth to close at N0.55 from the previous close of N0.50.
SFS Real Estate Investment and Trust Plc and Oando Plc among other gainers also grew their share prices by 9.94% and 9.67% respectively.
Percentage losers
NCR Nigeria Plc led other price decliners as it shed 9.71% of its share price to close at N2.79 from the previous close of N3.09.
Neimeth Pharmaceutical and Vitafoam among other price decliners also shed their share prices by 9.09% and 5.16% respectively.
Volume Drivers
- Guaranty Trust Bank traded about 34.196 million units of its shares in 513 deals, valued at N957.797 million.
- Zenith Bank traded 28.449 million units of its shares in 766 deals, valued at N572 million.
- UBA traded about 17.68 million units of its shares in 218 deals, valued at N122 million.