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Nigeria Stock Exchange Watch: ASI (+0.36%) Starts Off Positive, Dangote Flour (+4.89%) Continues to climb

By Afolabi Ogunde on July 9, 2012

The All Share Index gained 0.36% and started the week on a positive note. The Consumer goods drove the positive performance of the bourse today as the sub-index closed up 1.23%.

The banking sub-index fell marginally by 0.11% due to a moderate sell-off across the top tier bank stocks. First Bank (-0.53%), UBA (-1.22%) and Zenith (-0.83%) closed in the red, whilst Access Bank (+1.33%) was the only top-tier bank to close in positive territory.

Mid-tier banks were the toast of the sub-sector today as Stanbic (+4.82%), Sterling (+4.31%), Skye (+2.39%) and Diamond (+0.44%) all closed in the green. Union bank (+3.67%) also closed in positive territory.

Nigerian Breweries (+3.12%), 7-UP (+4.99%), Dangote Flour (+4.89%) and Nascon (+4.78%) drove the performance of the consumer goods sector today. Dangote Sugar (+0.25%) was also up in the day’s trading whilst Cadbury (-0.75%) and Nestle (-0.61%) shed marginal points.

The Insurance sub-index fell by 1.84%. Law Union & Rock (+3.92%) continued its upward trajectory, whilst Wapic (-3.95%) and Custodian (-1.94%) continued to see their prices fall.

136 million shares valued at N 1.67 billion traded today.

Market Capitalization increased to N 7.084 trillion and the year-to-date performance of the bourse also improved to 7.05%.

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