The equity market on Tuesday reversed the gains of yesterday occasioned by profit taking by investors as the All Share Index dipped by 0.57% to settle at 39,267.11 points from the previous close of 39,493.37 points.

The Market Capitalisation closed at N20.545 trillion, down by 0.57% from the previous close of N20.663 trillion, thereby shedding N118 billion.

An aggregate of 336 million units of shares were traded in 4,394 deals, valued at N3.27 billion.

The Market Breadth closed positive as 22 equities emerged as gainers against 13 equities that declined in their share prices.

Stocks to Watch

• Access Bank traded flat at N8.30. 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 traded flat at N7.25. It is trading 19.44% 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 N22.6 from N22.05. It is trading 20.70% away from its 52 weeks high of N28.5. There is uptrend potential of 21.05% 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 grew to N7.2 from N6.9. It is trading 26.53% 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 grew to N33 from N32.90. It is trading 14.17% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
• Lafarge Africa (WAPCO) grew to N22.25 from N22.05. It is trading 30% away from its 52 weeks high of N31.5. There is uptrend potential of 30% in the share price of Wapco.

Percentage Gainers

Livestock feeds led the gainers’ chart with 9.66% growth to close at N1.93 from the previous close of N1.76.

Courtville, Cornerstone and NPF Micro-finance among other gainers also grew their share prices by 9.09%, 9.09% and 8.33% respectively.

Percentage losers

Regency Alliance led other price decliners as it shed 9.09% of its share price to close at N0.30 from the previous close of N0.33.

Prestige and DAAR Communication among other price decliners also shed their share prices by 8.89% and 8.00% respectively.

Volume Drivers

Union Bank of Nigeria traded about 78.89 million units of its shares in 38 deals, valued at N418 million.

Guaranty traded about 28.9 million units of its shares in 489 deals, valued at N955 million.

Zenith Bank traded about 24.9 million units of its shares in 433 deals, valued at N560 million.