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Stock Market Watch: Market Capitalization at N 6.5 trillion

By on January 4, 2012

The Nigerian Stock Exchange started the session today with some upwards momentum, however the bourse succumbed to bearish resistance leading the ASI to shed 0.17% and close at 20,635.07

All tickers across the banking sub-sector fell in trading today with the exception of Access and FCMB which gained 4.96% and 2.20% appreciation.

The Agriculture/Agro Allied sector boomed today as Okomu Oil Palm and Livestock Feeds gained 498 and 400 points respectively.

The breweries sub-sector was quite quiet today with very marginal increase in the price of Nigeria Breweries alone. The company’s stock gained 2 points.

Dangote Flour and Honeywell Flour led the Food and Beverage sub-sector gaining 478 points and 476 points respectively. Cadbury also appreciated by 3.51% at the end of trading.

Flour Mills was down 382 points,  whilst Dangote subsidiaries Nascon and Dangote Sugar shed 49 and 20 points apiece.

Insurance stocks  on the uptick today were Aiico and Continental Reinsurance, gaining 3.85% and 3.75% respectively.

Volume leader today was Champion Breweries as one block trade today accounted for 80% of the entire market volume. 513 million units of the breweries stock exchanged hands today.

Forte Oil gained 5% in trading today. The Femi Otedola owned company will undoubtedly benefit from the withdrawal of subsidy in petroleum products.

Over 639 million shares valued at N 1.92 billion were traded today.