Nigerian Stock Exchanging in trading session

Adebayo Obajemu

The equity market on Tuesday admitted the Bulls as positive sentiment filtered the market on the ground of impressive Audited Reports published by quoted companies on the floor of the Nigerian Stock Exchange. Zenith Bank declared N2.70 dividend while United Capital declared 70 kobo dividend to shareholders.

The All Share Index appreciated by 0.03% to settle 40,164.86 points from the previous close of 40,154.09 points. Investors gain N5 billion as Market Capitalisation closed at N21.014 trillion, up by 0.03% from the previous close of N21.009 trillion.

An aggregate of 337.96 million units of shares were traded in 5,232 deals, valued at N3.845 billion.

The Market Breadth closed negative as 16 equities emerged as gainers against 24 equities that declined in their share prices.

Stocks to Watch

Access Bank traded flat at N8.35. It is trading 20.48% 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 N7.30. 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. 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 N26 from N24.8. It is trading 8.77% away from its 52 weeks high of N28.5. The financial giant declared a final dividend of N2.70 per share to its shareholders, which in addition to the 30 kobo per share as interim dividend amounts to N3.00 per share. At the share price of N26, dividend yield for Zenith Bank stands at 10.38%.
UBA grew to N8.5 from N8.40. It is trading 13.27% 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 N30.75 from N30.50. It is trading 20.03% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers

Livestock Feeds and AIICO Insurance both led other gainers with 7.14% growth to close at N2.25 and N1.20 respectively.

Flour Mills and Zenith Bank among other gainers also grew their share prices by 6.16% and 4.84% respectively.

Percentage losers

Sunu Assurances led other price decliners as it shed 9.88% of its share price to close at N0.73 from the previous close of N0.81.

LASACO and Africa Prudential Plc among other price decliners also shed their share prices by 9.87% and 9.85% respectively.

Volume Drivers

FBN Holdings traded about 64.59 million units of its shares in 252 deals, valued at N471.8 million.
Zenith Bank traded about 52.67 million units of its shares in 794 deals, valued at N1.34 billion.
Transcorp Plc traded about 41.99 million units of its shares in 123 deals, valued at N38.12 million

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