Stock Market Watch: Winning Continues, Market Cap Adds N 211 billion

The Nigerian Stock Market continued to propel its upward trajectory over the past few days. In trading today the winning continued as the All Share Index appreciated by 77 points to close at 20,763.26.

Fidelity led the volume chart in the market as a whole with over a 112 million shares traded today even as the stock appreciated by3.33% to close at N 1.55.

Sterling and UBA recorded the highest price appreciation in the sector bagging the maximum 500 points allowed each. Top-tiers GTbank and First Bank recorded share price depreciation, shedding 405 and 210 points respectively. Access, Skye and Stanbic also recorded losses in the session today.

Nigerian breweries and Guinness continue to record price improvement, up 4.86% and 2.08% respectively due to robust institutional bids and a dearth of supply.

Dangote Flour led the Food and Beverages sub-sector with a price increase of 3.10%, whilst Cadbury gained 273 points. Dangote Sugar was also up marginally by 43 points.

Across the Insurance sector Continental Reinsurance swelled by 4.40% and Goldlink bagged 3.39% increase even as Custodian shed 4.13%.

Conoil led the oil and gas sector bagging a 4.79% uptick even as Total and Oando shed a cumulative 505 points.

A few of the biggest gainers in the past week were Dangote Sugar (+17%), Fidelity (+17%), UBA (+16%), Nigerian Breweries (+12%), Cadbury (+11%), Sterling (+9%), First Bank (+7%) and Guinness (+7%).

The market appreciated 3.68% in the previous week.

Over 247 million units valued at N 1.12 traded today.