Nigeria Stock Exchange Watch: Index Dips Further, Shedding 0.96%
The All Share Index shed 0.96% today as Dangote Cement caved in to supply-side pressure and dropped 3.8% to close at N114.
The banking sub-sector was the only sub-index to appreciate in the session as it picked up 0.73% even as most participants were in the green with only FCMB (-0.97%) trading downwards.
Access (+1.2%), First Bank (+0.58%), Zenith Bank (+0.33%) and UBA (+3.44%) led the top-tiers division as GTBank remained unchanged.
Mid-tier banks also performed well with Diamond (+1.07%), Stanbic (+1.77%), and Skye (+0.69%) also closing in the affirmative.
The Consumer Goods sub-index shed 0.61% as names like Nigerian Breweries (-0.14%), Dangote Sugar (-3.54%), Dangote Flour (-4.76%) and Honeywell (-0.51%) all closed in the red.
The Insurance sub-index dropped 1.33% due to a general price drop across the breadth of the sub-sector. Wapic (-5%), Goldlink (-3.7%), Custodian (-3.08%), and Continental Re (-4.48%) all shed points.
Eterna Oil led the petroleum sector with a gain of 4.72%, even as Oando shed 0.42%.
The All Share Index closed at 23,166.58 and the Market Capitalization of the bourse stands at N7.37 trillion or $46 billion.
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