Nigerian Stock Exchange Watch: Bourse Down Marginally, Still on 38 Week High

The activity of profit takers conspired to push the bourse into negative territory at the close of trading today. Blue chip and highly capitalized stocks such as Nigerian Breweries (-2.37%), Zenith (-4.06%) and GTbank (-2%) came under intense selling pressure.

The All Share Index closed at 22,571.78, and the year-to-date performance of the bourse currently stands at 8.88%.

Across the banking sub-sector today, Diamond (+5%), and UBA (+4.96%) led the gainers charts. Union (+4.82%), and Access Bank (+3.24%) also closed in positive territory. Marginal gains were recorded by First Bank (+0.78%) and Stanbic (+0.43%).

Across the consumer goods sector, International Breweries (+4.99%) led the charge. Also recording bullish performance were Dangote Flour (+4.64%) on the back of takeover rumors, Dangote Sugar (+1.88%) and Nascon (+0.88%).

The Insurance sub-sector was led by Custodian (+4.76%) and Continental Reinsurance (+4.11%). GTAssure shed 438 basis points.

The Oil & Gas sector saw Eterna (+4.69%) gain significant points on the back of an impressive Q1, 2012 performance. Oando was up marginally with a gain of 63 points.

Activity levels were boosted by trading in bank stocks. 746 million shares valued at over N 6 billion exchanged hands today.

 

Price Gainers Chart

 

Price Losers Chart

 

Activity Chart