Nigerian Stock Exchange Watch: Bourse Down Marginally, Still on 38 Week High

Katherine Baffour 4 years ago 0

The activity of profit takers conspired to push the bourse into negative territory at the close of trading today. Blue chip and highly capitalized stocks such as Nigerian Breweries (-2.37%), Zenith (-4.06%) and GTbank (-2%) came under intense selling pressure.

The All Share Index closed at 22,571.78, and the year-to-date performance of the bourse currently stands at 8.88%.

Across the banking sub-sector today, Diamond (+5%), and UBA (+4.96%) led the gainers charts. Union (+4.82%), and Access Bank (+3.24%) also closed in positive territory. Marginal gains were recorded by First Bank (+0.78%) and Stanbic (+0.43%).

Across the consumer goods sector, International Breweries (+4.99%) led the charge. Also recording bullish performance were Dangote Flour (+4.64%) on the back of takeover rumors, Dangote Sugar (+1.88%) and Nascon (+0.88%).

The Insurance sub-sector was led by Custodian (+4.76%) and Continental Reinsurance (+4.11%). GTAssure shed 438 basis points.

The Oil & Gas sector saw Eterna (+4.69%) gain significant points on the back of an impressive Q1, 2012 performance. Oando was up marginally with a gain of 63 points.

Activity levels were boosted by trading in bank stocks. 746 million shares valued at over N 6 billion exchanged hands today. Home Page

Tags: Rick Ross

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