The market again admitted the Bears on Tuesday as profit taking persist on the floor of the Nigerian Stock Exchange.
The All Share Index depreciated by 0.74% to settle at 42,043.79 points from the previous close of 42,357.90 points.
The Market Capitalisation closed at N21.994 trillion, down by 0.75% from the previous close of N22.158 trillion thereby shedding N164 billion.
An aggregate of 556 million units of shares were traded in 7,110 deals, valued at N4.785 billion.
The Market Breadth negative as 9 equities emerged as gainers while 50 equities declined in their share prices.
Stocks to Watch
- Access Bank dropped to N8.9 from N9.15. 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 dropped to N7.35 from N7.5. 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 dropped to N26.3 from N27.15. It is trading 7.72% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N26.3, Zenith Bank is underpriced.
- WAPCO dropped to N28 from N30. It is trading 11.11% 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 dropped to N8.8 from N9.1. It is trading 10.20% away from its 52 weeks high of N9.8. With the book value of N19.16 as against its current share price of N8.8, UBA is considered cheap and has uptrend potential.
- Guaranty Trust Bank dropped to N33.75 from N34.5. It is trading 12.22% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
Champion Breweries led other gainers with 9.94% growth, closing at N3.76 from the previous close of N3.42.
Unilever and ETRANZACT among other gainers also grew their share prices by 5.19% and 5.15% respectively.
Percentage losers
Linkage Assurance led other price decliners as it shed 10% of its share price to close at N0.81 from the previous close of N0.90.
BOC Gas, Ardova and Berger Paints among other price decliners also shed their share prices 9.99%, 9.97% and 9.94% respectively.
Volume Drivers
- Union Bank traded about 79.52 million units of its shares in 47 deals, valued at N457.25 million.
- Transcorp traded about 52.67 million units of its shares in 261 deals, valued at N54.15 million.
- FBN Holdings traded about 49.54 million units of its shares in 332 deals, valued at N361.646 million.