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Nigerian Stock Exchange Watch: ASI (+1.76%) Gains As YTD Performance Hits 4%

By Afolabi Ogunde on January 12, 2013

The All Share Index gained 1.76% to close at 29,202. This brings the year to date performance of the market to 4%.

The strong performance of the market was led by the appreciation of key stocks in the banking, breweries and building materials sectors.

All the stocks in the banking sector recorded an uptick, with the exception of FCMB (-4.5%).

Fidelity (+6.76%), Sterling (+9.14%), GTBank (+4.85%), FBN (+2.44%), Zenith (+2.18%), Skye (+4.82%) and other banks recorded an assortment of gains.

Nigerian Breweries (+1.56%), and Guinness (+5%) recorded respectable gains.

Cement makers were all bullish, led by CCNN (+4.99%), Lafarge (+4.38%), Ashaka (+1.89%) and Dangote (+0.8%).

Over 308 million shares valued at N2.72 billion were traded in today’s market.

One Comment

Channeling Stocks

January 19, 2013 at 11:51 am

But its also true that growth of the stock market also depends on the no. of investors.