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Nigeria Stock Exchange: Activity Levels Pick Up As ASI Makes Marginal Gain

By on November 30, 2011

The All Share Index recovered at most extreme marginal levels, gaining just a point in daily trading. The volume of shares traded today on the Nigerian Stock Exchange  appreciated by 70% hitting north of 300 million units even as the value of shares traded was N 2.65 Billion, an improvement of 73% from yesterday’s levels.

The banking sector was largely bullish today. UBA led the top tiers recording a 2.41% appreciation.  Zenith followed suit gaining just under a percentage point.

GTBank and First Bank did not share the bullish sentiment as they lost 70 and 22 points apiece.

Stanbic IBTC gained 415 points, leading the banking sector in performance today. Acc ess gained 300 points, even as Unity and Wema Bank also gained 377 points apiece. Ecobank and Skye were also on the leaders charts as the respective stocks gained 211 and 119 points.

FCMB and Sterling succumbed to bearish sentiments losing  4.79% and 4.20% of their stock price. Fidelity shed 290 basis points.

Zenith and First Bank led the activity tables of the sector as the volume of stock traded was in excess of 69 and 36 million respectively.

Across the consumer goods space, the breweries sub sector recorded price movement in only one ticker as Nigerian Breweries inched up 12 points. UACN led the conglomerates sector, recording an uptick of 3 points only even as PZ shed 333 points.

The Food and Beverages sub sector was led by Flour Mills as the company’s stock appreciated 240 points. Dangote subsidiaries, NASCON and Dangote flour shed 476 and 252 points respectively. Cadbury took a marginal price cut of 18 points.

The Insurance sub-sector recorded upward movement in a few tickers. GTAssurance, Goldlink and Law Union and Rock saw appreciation in their price, recording gains of 13, 139 and 370 points apiece. Continental Reinsurance shed 110 points.

Oando led the oil and gas sector today recording a marginal gain of 15 points. Forte Oil reversed on its upward trend as it shed 271 points. Eterna was also out of 436 points at tehe end of trading today.