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Nigerian Stock Exchange Watch: ASI Continues to Climb, YTD Performance at 8.72%

By Afolabi Ogunde on May 3, 2012

The All Share Index continued its ascent today gaining 0.84% to close at 22,537.98.

The banking sub-sector continues to drive the positive performance of the Exchange as nine banks recorded positive price appreciation in the day’s trading. Top-tier banks dominated the bullish performance with First Bank (+4.97%), Zenith (+4.91%), UBA (+4.92%), Access (+4.87%) and GTBank (+2.56%) all recording strong price appreciation.

Diamond (+4.71%), Fidelity (+2.22%), Sterling (+3.48%)and Union (+0.48%)also all closed in the green.

On the flip side, shedding points were FCMB (-4.91%), Skye (-4.82%) and Stanbic (-1.43%).

The Building Materials sub-sector was also predominantly bullish. Lafarge (+5%) took the full possible gain and with unsatisfied demand may continue to rise tomorrow. CCNN (+4.16%), Paints (+4.35%) and Ashaka (+1%) also recorded positive performance.

Across the Food and Beverages sub-sector a similar scenario unfolded. Dangote Flour (+4.87%) led the performance. NAscon (+1.4%), Cadbury (+0.95%), and Honeywell (+0.48%)also followed the trend.

The Insurance sub-sector recorded positive gain as Continental Re (+1.15%), Custodian (+3.9%) and Goldlink (+3.51%) all closed in the green.

Oando led the Oil and Gas sector with a gain of 465 basis points whilst Eterna Oil shed 497 points. All the other counters were flat.

Over 574 million shares valued at N 4.68 billion exchanged hands among investors.

Gainers Chart