Nigerian Stock Exchange Watch: The Bulls Back at It, ASI Closes at 21,388.88

The Nigerian Stock Exchange persisted in its rally today with the All Share Index adding 140 basis points to close at 21,388.88. The bullish performance recorded this week has brought the Year-to-date performance of the Index to over 3.18%.

Bullish sentiments prevailed on the banking sub-sector due to the release of impressive Q1 earnings reports from UBA (4.69%) and GTBank (4.97%).      Other top performers included First Bank (+5%), FCMB (+5%), Union (+4.99%), Access (+4.86%) and Stanbic (+4.86%). Skye (+4.86%) and Fidelity (+1.35%) also closed in the green.

Virtually all the banking tickers closed in the green with the exception of Diamond Bank (-1.20%).

The Breweries sub-sector bubbled as Guinness (+3.07%), and Nigerian Breweries (+1.86%) recorded significant appreciation.

Dangote subsidiaries led the Consumer Goods sector as Dangote flour (+4.65%), Dangote Sugar (+2.82%) and NASCON (+4.84%) all closed in the green.

On the flip side Nestle (-1.17%) closed in the negative.

GTAssure (+3.9%), Goldlink (+3.39%) and Continental Reinsurance (+3.8%)   led the insurance sub-sector.

The Oil and Gas sector was led by Conoil (+3.95%) and Oando (+0.06%). On the flip side Forte Oil (-2.39%) closed in the negative.

Over 388 million shares valued at N 3.12 billion exchanged hands today.

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Leading the price trailers chart were:

 

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