Nigerian Stock Exchange Watch: Bearish Sentiments Prevail, Dangote Flour (+4.91%) Still Upbeat
The Bears dominated the market today forcing the market to retreat 58 basis points as the All Share Index closed at 22,422.43.
The banking sub-sector was entirely virtually in the red with the exception of Unity Bank (+1.96%). Top tiers First Bank (-4.23%), GTBank (-2.34%) and UBA (-2.5%) experienced extreme selling pressure, even as Zenith closed flat due to respite in the form of last minute BUY transactions.
The Consumer Goods sector saw Nigerian Breweries (0.02%) rise marginally. Dangote Flour (+4.91%) continued its takeover rumors driven ascent. Cadbury (+4.67%), Dangote Sugar (+1.01%), and Honeywell (+1.81%) also closed in the green.
Presco (+4.95%) led the entire market in price appreciation and was also ahead of the Agriculture sector.
Law Union & Rock (+4%) led the Insurance sub sector in gains. Also in the green were GTAssure (+2.58%), and Goldlink (+3.64%).
The market capitalization of the bourse stands at N 7.15 trillion ($45 bn), and the year-to-date performance is currently +8.16%.
Market @ a Glance:
Gainers Chart
Trailers Chart
Activity Chart
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