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Stock Market Appreciates as Bullish Sentiment Linger

By on October 4, 2011

The Nigerian Stock Exchange All Share Index, led by the Banking and Breweries sectors appreciated by 1.02% to close at 20,581.30 in trading today.

Nigeria Breweries gained a total of 4.39% today presumably as a result of the markets positive perception of the companys recent acquisition of majority interests in Sona Systems and Life Breweries Company Limited from Heineken N.V. Shares of ETI, Dangote Sugar and Presco closed the counters gaining a full 5%. Also UACN and CAP were up by 4.99%.

The total number of gainers today were 38 up by 12 from last Friday, and the total losers were 14 up by 4 from Friday. Also total value of stocks traded on the bourse today appreciated by 62.59% whilst the volume decreased by 2.09%.

GTB led the total value league tables as investors traded over 32 million units of stock valued at over 421 million Naira.  As is customary the entire banking sector led the value traded posting 1.5 Billion Naira in trading today.