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Nigerian Stock Exchange Watch: ASI Records Sixth Day of Consecutive Gains

By on April 24, 2012

The Nigerian Stock Exchange continued its ascent today, extending its winning streak to six straight days. The All Share Index climbed 0.53% to close at 21895.41. The performance of the bourse today was driven by strong price appreciation in blue chip stocks including Mobil (+5%), Flour Mills (+2.29%), Oando (+1.52%) and Dangote Cement (+1.68%).

The banking sub-index was primarily bearish as 7 counters dipped.  Top tiers, First Bank (-2.57%), Zenith (-0.71%), Guaranty (-0.32%) and Access (-2.68%) all recorded negative price growth.  Also on the losers table were Fidelity, Sterling and Stanbic.

On the flip side, UBA (+4.75%), Union (+4.33%) and FCMB (+4.80%) consolidated on previous day gains.

The Breweries sub-index was bullish as Guinness (+0.98%) and Nigerian Breweries (+0.78%) recorded marginal price increase.

Also following the bullish trend, the Building Materials sub-index participants, Ashaka (+5%), Berger Paints (+4.95%), and Dangote Cement (+1.68%) all gained significant points.

Leading the Food, Beverages and Tobacco Index, Cadbury (+4.97%), NASCON (+4.95%), and Flour Mills (2.29%) recorded impressive gains. Dangote Sugar (+0.56%) recorded marginal price improvement.

The Insurance sub-index was predominantly bullish as Custodian (+4.62%), Wapic (+4%) and Goldlink (+3.45%) all recorded gains. On the flip side, GT Assurance shed 380 basis points.

Gainers Chart:

Losers Chart:

Activity Chart: