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Nigerian Stock Exchange Watch: ASI (-0.44%) Retreats as Blue Chips Slide

By Afolabi Ogunde on August 6, 2012

The All Share Index shed 0.44% on the back of losses from key blue chip companies namely First Bank (-2.5%) and Nigerian Breweries (-2.7%). Other key participants down in the day’s trading were Mobil (-4.84%) and Total (-3.75%).

The banking sub-index shed 0.33% as positive price movement from Access (+0.81%), GTBank (+0.57%), Zenith (+0.33%) and UBA (+0.23%) was marginal and unable to lift the sub-index.

The Consumer Goods sub-index fell 1.1% led by the slump in Nigerian Breweries. On the flip side, UTC (+4.48%), NASCON (+3.14%), Honeywell (+2.62%) and Dangote Sugar (+1.01%) all moved upwards in the day’s trading. International Breweries also gained 4.89%.

Continental Reinsurance (+4.92%) was the only participant that closed in the green of the Insurance sector as the company released positive H1, 2012 earnings today.

Over 188 million shares valued at N1.76 billion were traded today.

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