Stock Market Watch: ASI gains as Dangote subsidiaries take the lead

The Nigerian stock market appreciated for the 3^rd consecutive day, as the All Share Index gained 39 points to close at 20,122.80.

All the Dangote subsidiaries were in the green after trading today, except Dangote Cement which  remained unchanged.

Nascon (a salt producing subsidiary of Dangote), Dangote Flour and Dangote Sugar were in the top 5 gainers on the bourse today, bagging 5%, 4.41% and 4.63% appreciation in share price respectively.

Across the banking sub-sector today, top-tiers UBA and First Bank added large increases of 4.66% and 4.35% respectively to their stock price. GTbank and Zenith recorded marginal positive erformance of .67% and .42% piece.

Virtually all the other banks recorded moderate share price appreciation with exception of Stanbic IBTC that shed 2.79% after several consecutive days of appreciation. FCMB also lost just less than half a percent.

Lafarge WAPCO led the cement manufacturers with an uptick of 2.27% in share price, even as it commissioned a new manufacturing plant in Ewekero, Ogun state today. Ashaka and CCNN were down 83 and 280 points respectively.

Fidson Healthcare continues to take hits to its share price as it shed 4.4% in trading today. May & Baker appreciated 4.97%.

Shares of UBA were in exceedingly high demand bursting through the volume chart with demand unfulfilled even with over 122 million shares traded, Zenith followed with 45 million shares plus, and Diamond with over 17 million.

Over 266 million shares valued at approximately N 1.6 billion traded today.