Stock Market Watch: ASI Reverses Six Day Losing Streak

The stock market has reversed its almost six day losing streak, gaining 6 basis points at the close of trading today.

Bearish sentiment dominated the banking sector as only FCMB and First Bank appreciated today, gaining 328 and 21 points respectively.

Ecobank and Fidelity shed 4.67% and 3.97% apiece of their stock value, even as the top tiers, GTBank, Zenith and UBA shed 167 points cumulatively.

Across Consumer goods, none of the breweries recorded any movement with the exception of Jos International Breweries that  shed 487 points. Dangote Sugar was up 204 points whilst Honeywell flour reversed on its previous day gains, dropping a hefty 4.55% of its stock value.
UACN suffered a loss of 2.62% of its share price, even as Cadbury fared similarly as it lost 2.68%.

The infrastructure sector was bullish today as Dangote Cement recorded a 0.87% gain, Ashaka Cement was also up 2.94%, and Lafarge Wapco saw a 1.31% appreciation.

Forte oil continues to post astonishing numbers, bagging 4.99%, and one point short of the full 500 allowed. The stock has gained approximately 55% in the last one month.

The ASI closed at 20,298.85 as over 193 million shares valued at approximately N 1.5 Billion traded today.