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Nigerian Stock Exchange Watch: ASI (+0.55%) Returns to Positive Territory(

By Afolabi Ogunde on July 3, 2012

The All Share Index closed up 0.55% as bullish sentiments prevailed in today’s session.

Leading the bulls was the banking sub-sector as the sub-index advanced by 1.47% on the back of a strong performance by stocks like UBA (+4.85%), GTBank (+2.61%), Access (+2.56%) and First Bank (1.63%).

Also in the green were Fidelity (+4.20%), and Diamond (0.91%)

Union Bank (-4.35%) shed the most points in the group after reporting a depressing 2011 financial result. Stanbic (-3.13%) and Skye (-0.35%) were also down.

The consumer Goods sector gained 0.56% on the back of price gains in Nigerian Breweries (+1.34%), 7UP (+4.99%), NASCON (+4.44%), and Dangote Sugar (+1.98%).

The Insurance sub-sector shed 0.73% as Wapic (-4.76%), Goldlink (-3.85%), Law Union & Rock (-3.77%) and Continental Re (-3.95%) all recorded price drops.

On the positive side Custodian (+3.33%) and Niger Insurance (+3.77%) advanced in the day’s trading.

The Oil & Gas sector was led by Forte oil (+3.82%) and Oando (+4.18%) as the sub-index gained 1.22%.

205 million shares valued at N 1.6 billion were traded in today’s market.

Gainer’s Chart