Stock Market Watch: ASI Gains on Performance from Breweries, Dangote Cement

The Nigerian Stock Exchange started the week on a positive note, gaining 10 points and bringing the All Share Index to close at 20,045.31.

Top gainers in the market today emerged from the banking industry as mid-tier banks, Skye and Fidelity, appreciated 4.87% and 4.55% respectively.

Other market leaders were Japaul Oil, Unity Bank and Livestock Feeds, recording gains of 423, 400 and 370 points respectively.

In the banking subsector top-tier banks Zenith and GTB shed a cumulative 49 points, even as First Bank recorded a gain of 131 points.

Stanbic continues to show resilience as it picked up 262 points, even as Sterling gained 208 points. Access, Diamond and Ecobank shed  473, 144 and 294 points apiece.

Across the Insurance space, Goldlink and GTAssurance were on the up and up, recording price appreciation of 3.51% and 0.69%. Aiico and Continental Reinsurance lost 196 and 404 respectively.

The breweries sub-sector saw dominant participants, Nigerian Breweries and Guinness gain a cumulative 54 points even as all other counters remained dormant.

Dangote Cement led the cement companies with a gain of 21 points, and helped to solidify the bourse’s positive performance. Ashaka and CCNN shed 179 and 489 points apiece.

Cadbury, 7Up and Dangote Sugar led the Food & Beverages subsector with gains of 324, 332, and 199 points respectively. Nascon, Dangote Flour and Honeywell were exceedingly bearish racking up losses of 500, 486 and 494 respectively.

Over 216 million shares valued at less than N 1.5 billion traded today.