Transactions on the floor of the Nigerian Exchange on Tuesday closed in red, occasioned by loss in the share price of MTN by 0.51%.
The All Share Index depreciated by 0.08% to settle at 39,801.78 points from the previous close of 39,834.42 points.
The Market Capitalisation declined by 0.08% to close at N20.830 trillion from the previous close of N20.847 trillion, thereby shedding N17 billion.
An aggregate of 426.5 million units of shares were traded in 5,616 deals, valued at N4.65 billion.
The Market Breadth closed positive as 24 equities appreciated in their share prices against 17 equities that declined in their share prices.
Percentage Gainers
- LASACO led other gainers with 9.86% growth to close at N1.56 from the previous close of N1.42.
- Neimeth and International Breweries among other gainers also grew their share prices by 9.83% and 9.62% respectively.
- The share price of FBNH grew by 7.25% to close at N7.4 from the previous close of N6.90.
Percentage Losers
- Linkage Assurance led other price decliners as it shed its share price by 13.11% to close at 53 kobo from the previous close of 61 kobo.
- Regency Assurance and Consolidated Hallmark Insurance among other price decliners also shed their share prices by 9.09% and 7.69%.
Volume Drivers
- FBNH traded about 79.60 million units of its shares in 484 deals, valued at N574.979 million.
- Access Bank traded about 64.847 million units of its shares in 550 deals, valued at N479 million.
- Zenith Bank traded about 58 million units of its shares in 527 deals, valued at N1.28 billion.
Stocks to Watch
- Access Bank grew to N7.45 from N7.3. It is trading 29.05% away from its 52 weeks high of N10.5. With the book value of N21.13, Access Bank is considered cheap at the current share price.
- FBN Holdings grew to N7.4 from N6.90. It is trading 17.78% 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.
- Zenith Bank dropped to N22 from N22.25. It is trading 22.81% 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 dropped to N7.2 from N7.3. It is trading 26.53% 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 traded flat at N30.1. It is trading 21.72% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.