Stock Market Watch: Some Stocks Rise in the Concrete

As the market continues to decline, some stocks on the NSE continue to show a bullish resilience. In the consumer goods sector today, Dangote was the shining star today, as two of the groups companies, Dangote Sugar and Dangote Flour, recorded an uptick of 4.98% and 4.86%.

Cadbury and Nestle went to the bulls today recording a depreciation in price of 4.98% and 1.22% respectively.

Nigerian Breweries and Unilever both saw a marginal uptick of 4 points apiece.

Across the banking sector, only eight tickers saw price movement today. Amongst these the bullish sentiment was dominant led by Ecobank that saw a rise of 4.9% in its stock price,  UBA was up 2.15%, Access and FCMB bagged 1.06% and 1.73% respectively. Fidelity and First Bank also saw marginal price appreciation of 0.63% and 0.41% respectively.

Diamond and Zenith Bank suffered a cumulative marginal of about 1%.

Bearish sentiments prevailed in the Infrastructure sector as Ashakacement, CCNN and Lafarge shed 3.83%, 0.20% and 2.51%, even as all other counters remained unchanged.

Forte oil appears unwilling to relinquish its current winning streak as it posted a 4.92% uptick, making it today’s only winner in the Oil and Gas sector. Oando shed the full 500 points allowed.

Ikeja hotel and Dangote Sugar were the biggest winners today, appreciating 4.98% each.

The Stock Market continued to be consistent today in its marginal descent, as it shed 7 points bringing the weekly losses thus far to 45 points or less than half a percent.

The All Share index Closed at 20,359.23.

Approximately 300 Million shares valued at an estimated N 2 Billiion were traded today.