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Nigerian Stock Exchange Watch: ASI (+1.5%) Gains Big, Skye Soars (+10%)

By on January 2, 2013

The Nigeria Stock Exchange All Share index gained 1.5% in its first trading day of the year. The index was buoyed by the performance of the banking sector which was predominantly bullish.

Skye Bank (+10%) led the exchange in performance. Other mid tier banks, including FCMB (+9.33%), and Diamond Bank (+9.31%) also performed well. Top tier banks were led by Frist Bank (+8.78%), and GTBank (+6.96%).

Zenith Bank (-0.46%) and Wema (-1.92%) were the only losers in today’s session.

Volumes were led by the banking sector with Zenith (26 million+) leading the pack.

Nigerian Breweries (+0.68%) started the year on a positive note, gaining marginally.

Dangote Sugar (+7.17%), Nascon (+4.75%), and Dangote Flour (+0.12%), all Dangote Group subsidiaries all gained.

Pharmaceutical companies, Neimeth (2.04%), May & Baker (+3.23%) and Fidson (+1.89%) all gained.