NSE

Adebayo Obajemu

Transactions on the floor of the Nigerian Stock Exchange on Tuesday closed on a bearish note as profit taking persist by investors. The All Share Index depreciated by 0.13% to settle at 41,510.16 points from the previous close of 41,564.31 points.

The Market Capitalization closed at N21.716 trillion, down by 0.13% from the previous close of N21.744 trillion, thereby shedding N28 billion.

An aggregate of 305.93 million units of shares were traded in 4,969 deals, valued at N3.95 billion.

The Market Breadth closed firm as 23 equities emerged as gainers against 23 equities that declined in their share prices.

Stocks to Watch

Access Bank dropped to N8.5 from N8.6. It is trading 19.05% 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 of N8.50.
FBN Holdings closed flat at N7.35. 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 of N7.35, shows that FBNH is cheap at the current price and has a lot of growth potential embedded in it.
Zenith Bank dropped to N25.8 from N26. It is trading 9.47% away from its 52 weeks high of N28.5. With the book value of N32.94, relative to the current share price of N28.5, Zenith Bank is underpriced.
WAPCO dropped to N26.7 from N26.85. It is trading 14.76% away from its 52 weeks high of N31.5. There is uptrend potential in Wapco as records have it that it has touched about N52 a few years back.
UBA dropped to N8.70 from N8.8. It is trading 11.22% 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 dropped to N32.7 from N32.85. It is trading 14.95% away from its 52 weeks high of N38.45 and this implies an uptrend potential for the bank.
Percentage Gainers

Linkage Assurance, Morrison Industries, Champion Breweries and RT Briscoe led other gainers with 10% growth to close at N0.66, N0.55, N2.75 and N0.22 respectively.

Wema Bank, Sovereign Trust Insurance and Honeywell Flour among other gainers also grew their share prices by 7.69%, 7.14% and 5.26% respectively.

Percentage losers

Northern Nigerian Flour Mills led other price decliners, as it shed 9.94% of its share price to close at N7.29 from the previous close of N8.65.

NEM Insurance, Niger Insurance and Japaul Gold among other price decliners also shed their share prices by 9.20%, 9.09% and 8.86% respectively.

Volume Drivers

Guinness Nigeria Plc traded about 37.244 million units of its shares in 137 deals, valued at N732.3 million.
Zenith Bank traded about 25.075 million units of its shares in 445 deals, valued at N651 million.
MTN traded about 2.893 million units of its shares in 166 deals, valued at N521 million