Stock Market Watch: Minimal Appreciation As Investors Tread Cautiously

The Stock Market inched up marginally in trading today, gaining 5 basis points and placing the All Share Index at 20,426.19.

Bearish and bullish sentiment were evenly matched in the banking sector as seven tickers saw a price depreciation compared to seven tickers that saw a price appreciation. However the value of the losses held more weight.

First bank was the only top-tier bank to shed points today, losing 0.41%, even as Zenith, UBA, and Guaranty appreciated by a total of 0.16%, 3.52%, and 0.67%.

Unity and Wema bank performed decently, bagging increases of 3.33%, and 3.70%, even as Stanbic and FCMB appreciated marginally.

Top losers in the banking sector today were Diamond and Fidelity shedding 4.57% and 4.65% respectively. Access fell by 3.51%, and Skye, Sterling and Ecobank also lost points.

Across the conglomerates, Transcorp performed decently returning 3.77% today. UACN appreciated marginally by 3 points, even as all other counters remained unchanged.

The big winners in the market today were Oando, whose CEO Wale Tinubu graces this months cover of Forbes Africa. The company’s stock is up 5%. Forte Oil is also up 5%, consolidating on gains recorded last week.

Ikeja Hotels also bagged close to the the full 496points

Over 215 million shares valued at just over N 2 billion were traded today.

One Comment

1. 

   Oketuk

   November 15, 2011 at 1:22 am

   Ceo on cover page (Wale Tinubu)