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All Share Index Closes the Week on a Positive Note

By on October 14, 2011

The Nigerian Stock Market closed the week on a positive note, gaining 0.29% and bringing the All Share Index to 19,869.85.

The banking sector put on a bullish performance today driven by institutional purchases of virtually all the top-tier banks including First Bank (1.1%), GTB (4.1%) and Zenith Bank (1.5%).
The biggest loser in the sector today was UBA shedding 4.8% with many unfilled sale offers. Diamond Bank and EcoBank also shed 4.72% and 3.85% respectively.

Across the Breweries sector Nigerian Breweries was up 1.8% with all the remaining counters unchanged at the close of the market for the weekend.

The Food and Breweries sector recorded more bears than bulls with only Flour Mills (2.63%) and Nascon (4.8%) recording gains. Dangote Sugar, Honeywell and Nestle were all down an average of 2%.

The All Share Index is down 1.76% this week, trading below 21,000 points, a level not seen since the yuletide season of 2009.