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Stock Exchange Closes the Week on Positive Note

By on October 21, 2011

The Nigerian stock Market closed the week on the upbeat as the All Share Index rose 0.61% to close at 20,257.47.
Leading the bulls was the banking sector buoyed by strong quarterly earnings. First Bank (+5%), Zenith Bank (+4.9%), GTBank (+4.4%) and Access (+4.2%) led the highly capitalized banking sector after reporting impressive performance over the third quarter.

In the building materials sector, Dangote Cement rallied due to unwillingness by investors to sell beyond the N 100 price floor. The stock price of dangote cement was up 3.1%. Ashaka Cement was up 4.5% to close at N 13.99, whilst CCNN was down 4.9%.

The big bears on the market today were Julius Berger (-4.99%), PZ (-4.99%), Diamond Bank (-4.97%), and UPDC (-4.93%).
176 million shares valued at N 2 Billion exchanged hands amongst investors today.

FinBank was delisted from the Nigerian stock Exchange today.

The weekly performance of the market is 1.95%.