Transactions on the floor of the Nigerian Stock Exchange on Wednesday closed on a bearish note as the All Share Index marginally declined by 0.07% to settle at 40,465.32 points against the previous close of 40,494.35 points.
The Market Capitalisation closed at N21.169 trillion, down by 0.07% from the previous close of N21.184 trillion, thereby shedding
An aggregate of 244 million units of shares were traded in 4,083 deals, valued at N2.65 billion.
The Market Breadth closed positive as 18 equities emerged as gainers against 22 equities that declined in their share prices.
Stocks to Watch
- Access Bank dropped to N8.3 from N8.45. It is trading 20.95% 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 N7.35 from N7.25. 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, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
- Zenith Bank closed flat N25. It is trading 12.28% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to its current share price, Zenith Bank is underpriced.
- UBA dropped to N8.40 from N8.45. It is trading 14.29% 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 closed flat at N30.90. It is trading 19.64% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers
Julius Berger led other gainers with 9.73% growth, closing at N20.3 from the previous close of N18.5.
Living Trust Mortgage Bank, Honeywell Flour and Cornerstone Insurance among other gainers also grew their share prices by 9.68%, 9.60% and 9.26% respectively.
Percentage losers
Beta Glass Plc led other price decliners as it shed 9.75% of its share price to close at N50 from the previous close of N55.4.
Japaul Gold, Fidson and Consolidated Hallmark Insurance among other price decliners also shed their share prices by 8.86%, 8.55% and 7.89% respectively.
Volume Drivers
- FBN Holdings traded about 52.3 million units of its shares in 208 deals, valued at N381.499 million.
- Transcorp traded about 24.8 million units of its shares in 142 deals, valued at N23.819 million.
- Guaranty Trust Bank traded about 16.5 million units of its shares in 245 deals, valued at N512.526 million.