Nigerian Stock Exchange Watch: ASI (-0.77%) Sheds Weight as YTD Performace Hovers at +30%

The All Share Index shed 77 basis points in today’s trading as it commenced the week on a bearish note.

As expected, the selling pressure on Diamond which started towards the tail end of the previous week persisted as this week began. The bank’s stock closed on full offer which indicates it may shed more weight tomorrow.

UBA (+2.73%) and Skye (+4.94%) were on the bullish side as both bank’s reported better than expected earnings to the Nigerian Stock Exchange today.

Breweries powerhouses, Nigerian Breweries (-4.93%) and Guinness (-0.21%) recorded price depreciation whilst the smaller breweries, Champion(+5%) and International (+6.14%) bucked the trend as they gained impressively.

Insurance Companies, Aiico Insurance (-10%), Wapic (-5%) lost major points. However Continental Reinsurance (+3.41%), Prestige (+2%), and Custodian (+2.04%) were on the other side of fortune in today’s trading.

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