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Stock Market Watch: ASI Closes on the Up and Up

By on December 21, 2011

The market put on an impressive performance today closing all the way in the green. The All Share Index was up a respectable 148 points to close at 20,420.23.

The banking sector was all bull and no bear today, as all the tickers that recorded activity, did so on the positive side. Fidelity Bank led the sector with an uptick of 5% in share price appreciation. Access and First bank were tied up for second place  as both banks recorded 4.95% in stock appreciation today.

Zenith, UBA and GTbank gained 380, 121 and 346 points respectively. FCMB, Skye, and Sterling recorded appreciation of 439, 386, and 404 points apiece.

Stanbic saw no movement in its price, but Diamond, Unity and Wema followed the positive trend, even as Ecobank picked up 4.85% at the close of trading.

The Food and Beverages sub-sector was led by Nestle Nigeria and the Dangote subsidiaries. Nestle picked up 4.99%, almost maxing out, followed closely beind by Dangote Sugar, Dangote Flour and Nascon as the firms picked up 4.90%, 4.89% and 4.51% in share price appreciation.

7up and Cadbury sweetend the pot as the companies appreciated by 404 and 19 points respectively.

The Insurance sub-sector was also on the up and up as Custodian and Allied picked up the maximum 500 points, Goldlink was up 351 points. Losers in the sector were GT Assur down 483 points and Continental reinsurance down 440 points.

Nigeria Breweries was the only brewer up in trading today, as the Star lager producer shot up 184 points.

Over 341 million shares valued at N 1.34 billion traded today.