Transactions on the floor of the Nigerian Stock Exchange on Wednesday closed on a negative note as profit taking persist by investors to realign their portfolios ahead of audited Q4 financials.
The All Share Index declined by 0.1% to settle at 42,000.01 points from the previous close of 42,043.79 points. The Market Capitalisation closed at N21.971 trillion from the previous close of N21.994 trillion, thereby shedding N23 billion.
An aggregate of 504.84 million units of shares were traded in 5,887 deals, valued at N5.31 billion.
The Market Breadth closed negative as 19 equities emerged as gainers while 27 equities declined in their share prices.
Stocks to Watch
- Access Bank traded flat at N8.9. It is currently trading 15.24% away from its 52 weeks high of N10.5. With the book value of N19.12, Access Bank is considered cheap at the current share price of N8.9.
- FBN Holdings traded flat at N7.35. It is trading 18.33% 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 of N7.35, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank grew to N26.95 from N26.3. It is trading 5.44% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.95, Zenith Bank is underpriced.
- WAPCO dropped to N27.55 from N28. It is trading 12.54% away from its 52 weeks high of N31.5. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
- UBA grew to N8.85 from N8.8. It is trading 9.69% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.85, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N33.05 from N33.75. It is trading 14.04% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
NCR Nigeria Plc led other gainers with 9.94% growth, closing at N3.43 from the previous close of N3.12.
Consolidated Hallmark Insurance and Prestige Assurance among other gainers also grew their share prices by 9.52% and 9.09% respectively.
Percentage losers
Linkage Assurance led other price decliners as it shed 9.88% of its share price to close at N0.73 from the previous close of N0.81.
Champions Breweries, Regency Assurance and Africa Alliance Insurance among other price decliners also shed their share prices by 9.84%, 9.38% and 9.09% respectively.
Volume Drivers
- Union Bank traded about 75.55 million units of its shares in 45 deals, valued at N434.42 million.
- Guaranty Trust Bank traded about 60.67 million units of its shares in 349 deals, valued at N2.01 billion.
- FCMB traded about 50.4 million units of its shares in 108 deals, valued at N173.55 million.