All Share Index Down Marginally in Day Trading

The Stock Market ceased its five day consecutive winning streak as it returned to the bears today. The All Share Index shed 47 basis points today to close at 20,837.58.

The banking sector went fully to the bears today as no single bank recorded a gain with the exception of Fidelity Bank (+1.16%), after its results came out and stated a healthy N 6 Billion net profit.

UBA shed 443 points even as the management of the company recently hinted on an impending rights issue. First Bank was down 210 points whilst GTBank remained unchanged.

Stanbic (-4.92%), Unity (-3.57%), Access (-2.72%) and Diamond (-2.58%) also lost quite a few points.

Guinness Plc was the toast of the breweries sector as the stock gained 3.93% at the close of trading. All other counters remained unchanged today.

Cement Company of Northen Nigeria bagged the full 500 basis points , whilst WAPCO shed 474 points even as behemoth Dangote Cement remained unchanged in today’s trading.

Conglomerate UACN was up 500 basis points today after it released healthy results earlier this week and bagged a profit of N 4.2 Billion at the end of 3Q 2011. Transcorp shed over 200 points.

Across the Food and Beverages sector, Honeywell Flour Mills continues to outperform as it gained 433 points today. Dangote Flour, Dangote Sugar and Flour Mills lost 3.78%, 4.86% and 2.40% respectively.

273 million shares valued at N 2.09 Billion exchanged hands on the bourse today.