Stock Market Watch: ASI Rebound, Gains 81 Points

The Nigerian Stock Market rebounded today gaining 81 points in trading today, reversing on the depressing loss it grudgingly entertained yesterday, that placed it all levels not seen in over half a decade.

Arguably Dangote Cement was the savior of the market today, as the stock gained 475 points to close upwards of N 105 from N 100.33 yesterday. CCNN was down 4.82%

The banking sector was predominantly bearish as ETI and UBA took significant hits that wiped out 4.93% and 4.72% from their earnings. First bank was down half a point and Skye Bank fell over a point and a half. Unity and Wema both saw their shareholder value erode by 3.64%.

GtBank inched up marginally, gaining 0.42%, and Access managed to claw upwards by 1.04%. The biggest gainer in the sector was Sterling Bank up by 4.76%. Stanbic inched up marginally, recording a 66 point gain.

Across the consumer goods space, Honeywell Flour emerged the biggest gainer, bagging 143 points. Dangote Flour, UAC and Dangote Sugar shed 273, 177 and 63 points respectively.

Top gainers across board today were Transcorp (5%), Okomu (5%), Cutix (4.94%), Roads (4.88%), and UPL (4.83%).

The biggest drops were recorded by ETI (4.93%), CCNN (4.82%), IkejaHotel (4.81%), UBA (4.72%).

The All Share index ascended to 20,122.14 as over 136 million shares worth approximately N 1.3 Billion traded today.