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Nigerian Stock Exchange Watch: Market Retreats Marginally

By Afolabi Ogunde on January 18, 2012

The Nigerian Stock Exchange retreated from its gains yesterday as the All Share Index declined by 0.35%. The Index closed at 20,997.88, driven by a bearish outing from the breweries sub-sector. Guinness and Nigerian Breweries shed 3.19% and 3.35% respectively.

The Banking sub-sector and the Building materials sub-sector were bullish today, and seem to be headed for an upward trend tomorrow due to unfulfilled demand in participants. Activity levels declined by 56% (Volume) and 42% (Value) as only 106 million shares worth N 870 million traded today. Here is a snapshot of today’s top gainers:

Here is a snapshot of the trailers category:

Continental Reinsurance led the activity chart that comprised mostly of the banking sector;s usual suspects i.e. top-tiers First Bank, Zenith Bank and GTBank.