Don't Miss

Stock Market Watch: ASI Closes Beneath 20,000 Threshold

By on December 1, 2011

The Nigerian Stock Exchange buckled in daily trading following sell side pressure as the yuletide period closes in.

The All Share Index shed 18 points closing below the 20,000 threshold at 19,967.84.

Investors are making cash calls on the market, and liquidating some or all of their holdings in order to have cash to spend on family and loved ones this Christmas period.

Several mid-tier banks succumbed to sell side pressure today, Fidelity, Diamond and Stanbic lost upwards of 400 points each.

First Bank shed upwards of 200 points, even as UBA and Zenith bank recorded marginal losses.

GTBank gained marginal points in trading today, emerging the only top-tier bank with positive momentum.

Trading volumes were vigorous for Zenith Bank and GTBank as the companies traded over 80 and 50 million units respectively.

Diamond and UBA were also highly sought after on the market today with institutional investors trading both companies in excess of 65 and 52 million units.

The Breweries sub-sector of the Consumer Goods sector recorded a bullis performance today as Nigerian Breweries appreciated north of a 100 basis points and Guinness gained a marginal 20 points.

Across the Food and beverages sub sector, Dangote subsidiaries Dangote Flour and Dangote Sugar recorded a mixed performance with the Sugar subsidiary losing close to 500 points whilst the Flour arm was up a marginal 20 points.

Top winners today were GlaxoSmithKline (+4.99%), DN Meyer (+4.9%), Eterna (+4.86%), Vitafoam (4.79%), Sterling (+3.51%)

Over 400 million shares valued north of N 3 Billion were traded today.