Transactions on the floor of the Nigerian Exchange on Tuesday closed on a positive note as the All Share Index appreciated by 0.43% to settle at 39,015.58 points from the previous close of 38,808.02 points. Investors gained N88 billion as Market Capitalisation grew by 0.43% to close at N20.419 trillion from the previous close of N20.331 trillion.
An aggregate of 339 million units of shares were traded in 4,203 deals valued at N2.7 billion.
The market breadth closed positive as 24 equities emerged on the gainers list while 12 equities declined in their share prices.
Percentage Gainers
Honeywell Flour and PZ both led other gainers with 10% growth, closing at N1.43 and N4.95 respectively.
Sovereign Trust Insurance and NEM Insurance among other gainers also grew their share prices by 8% and 7.5% respectively.
Percentage Losers
Royal Exchange Assurance led other price decliners as it sheds 10% of its share price to close at N0.36 from the previous close of N0.40.
Portland Paints and FTN Cocoa among other price decliners also shed their share prices by 9.90% and 8.89% respectively.
Volume Drivers
- Fidelity Bank traded about 125.26 million units of its shares in 225 deals, valued at N265.64 million.
- Zenith Bank traded about 26.18 million units of its shares in 381 deals, valued at N574.96 million.
- UACN traded about 25.82 million units of its shares in 273 deals, valued at N280.34 million.
Stocks to Watch
- Access Bank traded flat at N7.5. It is trading 28.57% away from its 52 weeks high of N10.5. A position in Access Bank has an upside potential of 27.62%, relative to its year high of N10.50. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- FBN Holdings traded flat at N7.65. It is trading 15% 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 N21.32, 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 grew to N22.25 from N21.65. It is trading 21.93% away from its 52 weeks high of N28.5. There is uptrend potential 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 grew to N7.1 from N7.05. It is trading 27.55% away from its 52 weeks high of N9.8. With the book value of N21.17 as against its current share price, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank grew to N30 from N29.5. It is trading 21.98% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N20.5. It is trading 34.92% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.