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Nigerian Stock Exchange Watch: Bearish sentiments prevail as ASI (-0.18%) Closes Down

By Afolabi Ogunde on June 25, 2012

The All share Index shed 0.18% in today’s trading on the back of a bearish session without much activity across the major counters.

Virtually every major sub-index closed in the red, Banking (-0.35%), Consumer Goods (-0.41%), and Insurance (-1.52%).

Access (+4.92%) was the only banking stock in the green, even as the other top tiers either retreated or remained static. The biggest price drop recorded in the sub-sector was Stanbic IBTC, as it was down 472 basis points.

Across Consumer Goods sector, Nigerian Breweries (-0.99%) shed about a 100 basis points, whilst Dangote Flour (-1.96%) was down.

NASCON (-2.17%) retreated, even as Dangote Sugar (+0.77%) was the only gainer in the Food and Beverages sub-sector.

Custodian (-4.46%) and GTAssure (-4.76%) share prices took a beating as the Insurance sub-index closed in the red. Wapic (+4.05%) and Continental Re (+2.70%) continued their ascent in the day’s trading, building on previous gains.

Over 271 million shares valued at N 1.33 billion were traded on the exchange today.

Gainers Chart