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Nigerian Stock Exchange Watch: Dangote Cement ( -3.70%) Send ASI (-0.74%) South

By Afolabi Ogunde on June 18, 2012

The All Share Index shed 0.74% on the back of price depreciation sustained by the market’s most capitalized participant- Dangote Cement.

The banking sub-index gained marginally, picking up only 0.10% as most of the bank’s saw only a slight price improvement. Zenith (+0.38%), First Bank (+0.28%), UBA (+1.32%) and Sterling (+0.92%) were some on the gainers in today’s trading. Also recording price gains were Fidelity (+1.67%), and Union bank (+4.9%).

Skye (-0.7%), Access (-1.6%) and FCMB (-0.63%) were the only participants in the sub-sector that closed in negative territory.

The Consumer Goods sub-index picked up by 0.68% today as Nigerian Breweries (+1.03%) closed in the green. Cadbury (+2.74%) and NASCON (+1.11%) also closed in the green. PZ (+5%) led the market and UAC (+4.6%) also recorded significant price increase.

Dangote Sugar (-1.86%) retreated in the day’s trading.

The Insurance sub-sector was skewed to the sell side and the sub index closed down by 0.17%.

Continental Re (-3.8%), Goldlink (-4.92%), and Law Union & Rock (-5%) led the bears in today’s performance.

On the flip side, Wapic (+4.17%) and Custodian (+4.43%) traded upwards with Wapic leading the overall market in volume of shares traded.

Gainers Chart