The market on Wednesday admitted the Bear on the floor of the Nigerian Stock Exchange as equities succumb to profit taking. The All Share Index dropped by 0.26% to settle at 35,056.82 points from the previous close of 35,147.62 points. The market capitalization declined by 0.23% to close at N18.323 trillion from the previous close of N18.365 trillion, thereby shedding N42 billion.
An aggregate of 368.97 million units of shares were traded in 4,598 deals, valued at N5.49 billion.
The market breadth closed negative as 19 equities gained while 22 equities declined in their share prices.
Stocks to Watch
Fundamentally sound stocks should always be at the back of the mind of every investors.
- Access Bank closed at N8.7 today. The stock is currently trading 27.50% away from its 52 weeks high of 12%. At that, there is growth potential in the share price of Access Bank.
- FBN Holdings grew to N7.3 today. 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.
- Zenith Bank is currently trading at N24 and it has the potential to back to where it was coming from.
- WAPCO closed flat today at N23. It is trading 11.54% away from its 52 weeks high of N26, which implies an uptrend potential for the share price of the company.
- UBA grew to N8.65 today. There is growth potential in the share price of the bank.
- Glaxosmith traded flat at N6.65 today. It is trading 23.56% away from its 52 weeks high of N8.70, at that, there is growth potential for the share price of GSK.
- Guaranty Trust Bank dropped to N34.1 from the previous close of N35. It is trading 11.31% away from its 52 weeks high of N38.45, which suggest an uptrend potential for the share price of Guaranty Trust Bank.
Percentage Gainers
AIICO Insurance led other gainers with 9.90% growth to close at N1.11 from the previous close of N1.01.
Regency Assurance and FTN Cocoa Processors Plc among other gainers also grew there share prices by 9.09% and 8.70% respectively.
Percentage Losers
C&I Leasing led other price decliners as it shed 9.90% of its share price to close at N4.46 from the previous close of N4.95.
AXA Mansard and Northern Nigerian Flour Mills (NNFM) among other price decliners also shed their share prices by 9.70% and 9.67% respectively.
Volume Drivers
- Access Bank traded about 46.34 million units of its shares in 208 deals, valued at N403.13 million.
- FBN Holdings traded about 44.43 million units of its shares in 275 deals, valued at N325.49 million.
- Zenith Bank traded about 44.02 million units of its shares in 538 deals, valued at N1.06 billion.