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Nigerian Stock Exchange Watch: Dangote Cement lifts ASI (+0.46%), Dangote Flour (+4.98%), Presco (+4.99%) are Stocks too Watch

By Afolabi Ogunde on May 16, 2012

The Market closed in the affirmative largely due to a gain of 250 basis points by Dangote Cement – the market’s most capitalized company. The ASI gained 0.46% to close at 22,524.67 even as the market capitalization maxed out at N 7.183 trillion.

The banking sub-sector improved on yesterday’s performance as 5 counters recorded price appreciation. Notable gainers included GTBank (+2.14%), Access (+1.65%) and First Bank (+1.13%). Fidelity and Unity banks also closed upwards.

Berger Paints (+5%) led the Real Estate sector with maximum points gained. Other gainers were Dangote Cement (+2.46%), and Ashaka (+0.8%). LaFarge declined by 211 points.

Dangote Flour (+4.98%) continues to confound the laws of gravity and lead the Consumer Goods sector. The maker of Dangote Spaghetti’s stock price is up 27% since last Monday.

Cadbury (+4.97%) was the other winner in the sector, with Dangote Sugar (-2.50%), Flour Mills (-1.02%), Nascon (-4.76%) and Inter Brew (-4.97%) all closing south.

The Insurance sub-sector saw a downturn as it closed down by 0.71%.

Overall the market activity was average with 260 million shares valued at N 2.42 billion traded.

Gainers chart