Transactions on the floor of the Nigerian Stock Exchange on Monday closed on a negative note as the All Share Index depreciated by 0.40% to settle at 38,712.55 points from the previous close of 38,866.39 points. The market capitalization closed at N20.260 trillion, down by 0.37% from the previous close of N20.335 trillion, thereby shedding N75 billion.
An aggregate of 194.024 million units of shares were traded in 4290 deals, valued at N1.364 billion.
The Market Breadth closed negative as 15 equities emerged as gainers against 20 equities that declined in their share prices.
Percentage Gainers
Japaul Gold led other gainers with 9.52% growth to close at N0.69 from the previous close of N0.63. This is followed by UAC Property with 9.33% growth, closing at N0.82 from the previous close of N0.75.
Royal Exchange Assurance and Africa Prudential among other gainers also both grew their share prices by 8.33% respectively.
Percentage Losers
Stanbic IBTC led other price decliners as it sheds 9.94% of its share price to close at N43.50 from the previous close of N48.30.
Guinness and Custodian Investment Plc among other price decliners also shed their share prices by 9.93% and 8.40% respectively.
Volume Drivers
- Fidelity Bank traded about 30.88 million units of its shares in 203 deals, valued at N77.624 million.
- Chams Plc traded about 29.532 million units of its shares in 27 deals, valued at N5.95 million.
- Access Bank traded about 23.372 million units of its shares in 353 deals, valued at N188.99 million.
Stocks to Watch
- Access Bank grew to N8.1 from N8.05. It is trading 22.86% 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 grew to N7.3 from N7.25. It is trading 18.89% 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 grew to N22 from N21.95. 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 N6.95 from N7. It is trading 29.08% 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 traded flat at N28.9. It is trading 24.84% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- Lafarge Africa (WAPCO) traded flat at N21. It is trading 33.33% away from its 52 weeks high of N31.5. At that, there is uptrend potential in the share price of Wapco.