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