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Nigerian Stock Exchange Watch: Market YTD Performance Hits (+7.77%), First Bank (+2.83%) Carries ASI (+0.15%)

By Afolabi Ogunde on May 22, 2012

The All Share Index gained 0.15% to close at 22,342.13 as the year-to-date performance of the bourse improved to 7.77%.

The gainers outweighed to losers in the banking sub-sector today as key bank stocks including First Bank (+2.83%), Zenith (+0.20%) and Access(+0.44%) recorded price appreciation. Also in the green were FCMB (+4.42%) and Fidelity (+1.56%).

UBA (-1.68%) reversed on yesterdays gain whilst Stanbic (-1.82%) and Union (-4.88%) piled upon yesterday’s losses.

A marginal uptick in Nigerian Breweries (+0.85%) was about the only good news out of the Consumer Goods sector. Honeywell (+3.9%) also recorded price appreciation. Dangote Flour (-4.86%) continued to slide after releasing less than stellar results. The company did announce a dividend of 10 kobo today.

Across the Oil and Gas sector Oando stock fell 5% after the company reported a huge drop in profits in its 2011 FY Earnings yesterday. Forte Oil (-3.68%) was also down.

The Insurance sub-sector was relatively quiet, although Goldlink (+3.51%) did record price appreciation.

A recap of today’s events as follows:

Gainers Chart