The equity market on Tuesday closed in red, however marginally as the All Share Index depreciated by 0.05% to settle at 38,704.97 points from the previous close of 38,722.87 points. The Market Capitalisation depreciated by 0.04% to N20.251 trillion from the previous close of N20.260 trillion, thereby shedding N9 billion.
An aggregate of 277.2 million units of shares were traded in 4,299 deals, valued at N3.053 billion.
The Market Breadth closed negative as 19 equities emerged as gainers against 20 equities that declined in their share prices.
Stocks to Watch
- Access Bank grew to N8.25 from N8.15. It is trading 21.43% 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. A position in Access Bank has an upside potential of 21.43%.
- FBN Holdings dropped to N7.20 from N7.25. It is trading 20% 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 dropped to N22 from N22.5. It is trading 22.81% 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 traded flat at N6.9. It is trading 29.59% 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 N31.05 from N31. It is trading 19.25% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
- WAPCO dropped to N22.5 from N22.6. It is trading 28.57% away from its 52 weeks high of N31.5. There is uptrend potential in the share price of Wapco as records have it that it has touched N52 some years back.
Percentage Gainers
Coronation Insurance and CAP Plc led other gainers with 10% growth to close at N0.55 and N22 respectively.
NPF Microfinance Bank, Julius Berger and FTN Cocoa among other gainers also grew their share prices by 9.94%, 9.89% and 9.30% respectively.
Percentage losers
Livestock Feeds led other price decliners as it sheds 9.52% of its share price to close at N1.90 from the previous close of N2.10.
Chams Plc and Cornerstone Insurance among other price decliners also shed their share prices by 8.70% and 6.67% respectively.
Volume Drivers
- Dangote Sugar traded about 107 million units of its shares in 142 deals, valued at N1.8 billion.
- Union Bank traded about 78.54 million units of its shares in 37 deals, valued at N416.27 million.
- Transcorp Plc traded about 31.57 million units of its shares in 143 deals, valued at N25.26 million.