- Stocks to Watch
Transactions on the floor of the Nigerian Stock Exchange on Tuesday closed on a negative note as profit taking and portfolio diversification persist by investors.
All Share Index dropped by 0.09% to settle at 35,033.74 points from the previous close of 35,064.36 points. Market capitalization closed at N18.311 trillion, down by 0.09% from the previous close of N18.327 trillion, thereby shedding N16 billion. Year to date, the market has returned 30.52%.
An aggregate of 306.92 million units of shares were traded in 4,500 deals, valued at N3.27 billion.
The market breadth closed negative as 14 equities gained while 18 equities declined in their share prices.
Stocks to Watch
Fundamentally sound stocks should always be at the back of the mind of every investors. Discerning investors should take advantage of the ongoing market correction to take position in fundamentally sound stocks.
- Access Bank dropped to N8.30 from N8.50. The stock is currently trading 30.83% away from its 52 weeks high of N12. At that, there is growth potential in the share price of Access Bank.
- FBN Holdings dropped to N7.05 from N7.1. It is trading 21.67% away from its 52 weeks high of N9 which implies an uptrend potential for the share price of the big elephant.
- Zenith Bank dropped to N23.4 from N23.7. It is trading 17.89% away from its 52 weeks high of N28.5.
- WAPCO dropped to N22.5 from N22.8. It is trading 13.46% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
- UBA traded flat at N8.25. It is trading 15.82% away from its 52 weeks high of N9.8. There is growth potential in the share price of the bank.
- Guaranty Trust Bank traded flat at N33.15. It is trading 13.78% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
FTN Cocoa Processors Plc led other gainers with 9.68% growth to close at N0.34 from the previous close of N0.31.
Royal Exchange Assurance, Mutual Benefit Assurance and Ecobank among other gainers also grew their share prices by 9.52%. 9.09% and 8.33% respectively.
Percentage Losers
The Initiate Plc led other price decliners as it shed 8.77% of its share price to close at N0.52 from the previous close of N0.57.
Regency Assurance and Wapic Insurance among other price decliners also shed their share prices by 8.33% and 4.76%.
Volume Drivers
- UBA traded about 142.44 million units of its shares in 214 deals, valued at N730.83 million.
- Zenith Bank traded about 33.86 million units of its shares in 566 deals, valued at N795.52 million.
- FBN Holdings traded about 12.63 million units of its shares in 232 deals, valued at N89.44 million.