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Nigerian Stock Exchange Watch: ASI (+0.27%) Closes Up on Dangote Cement (+2.37%) Price Gain

By on June 12, 2012

The All Share Index close upwards for a second consecutive day due to a significant uptick in the price of Dangote Cement stock. The ASI’s marginal gain helped to close the gap in the month-to-date (-3.75%) losses of the Exchange.

The banking sub-sector was all the way bearish today as one lone participant, Skye Bank (+1.79%) saw positive price movement.

On the down side were top tiers Access (-3.2%), First Bank (-1.04%), GTBank (-0.4%), UBA (-0.54%) and Zenith (-1.85%).

FCMB (-4.09%) and Fidelity (-3.23%) also shed significant weight.

The Building Materials sub-sector was very bullish as Ashaka (+4.91%), CCNN (+4.93%) joined Dangote Cement (+2.37%) to pick up in price.

The Consumer Goods sub-index declined by 0.19% as Dangote Flour (-5%), Honeywell (-4.76%), Guinness (-0.84%) and Nascon (-4.88%) all shed points.

The Insurance sub-index was led by Wapic (+5%), and Law Union & Rock (+3.7%). Custodian shed 131 basis points.

Activity levels were low as 139 million shares valued at N 1.3 billion traded today.

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