Sock Market Watch: ASI Yoyos Below 20,000 Threshold Once Again

The Stock Market has continued its yoyo like ascent and descent around the 20,000 mark. The market fell in today’s trading by 32 points as the All Share Index closed at 19,951.13.

Market Capitalization fell by N20.31 Billion to N 6.279 Trillion.

Nigerian breweries reversed on its stellar performance yesterday as the stock shed 2.55% in todays trading even as other counters in the breweries sub-sector remained unchanged.

The participants in the Food and Beverages sub-sector of the Consumer goods category that recorded activity were bullish in trading today. These were virtually all Dangote subsidiaries, Dangote Sugar gained 262 points, NASCON gained 224 points and Dangote Flour gained 120 points.

The Banking sub-sector recorded an uptick in only 3 counters as the industry was largely bearish on the bourse today. FCMB bagged the full 500 points, even as top-tier GTBank picked up 222 points. Wema was also bullish as the stock recorded increase of 175 points.

Top-tier UBA fell by 444 points. Stanbic shed 309 points, Access and Diamond shed 446 and 471 points respectively. Other losers in the sector were Skye, Unity, and Sterling.

The most traded stocks on the bourse today were all bank stocks and include Zenith (>26 million units), Unity (>22 million units), UBA (>21 million units), Fidelity (>18 million units), and First Bank (>13 million units).

GTBanks GDR shed  111 points and is currently trading at $4.45.

Approximately 163 million shares valued at over a billion Naira were traded on the bourse today.