Nigeria Stock Exchange Watch: Fifth Consecutive Day of Decline
The Nigerian Stock Exchange began the seventh week of the year on a negative note as the All Share Index slumped by 19 points to close at 20,583.61.
The banking sub-sector was the only indice to record a decline today, however its dismal performance was enough to drag the market as only one banking stock appreciated. Skye bank rose marginally by 95 points even as heavy hitters, Zenith (-0.24%), UBA (-4.97%), and First Bank (-1.57%) shed points.
The Consumer Goods sector appreciated due to performance of key stocks: Cadbury (+3.83%), Flour Mills (+0.92%), Nigerian Breweries (+0.66%).
The volume of stocks (252 million) traded increased by 19%, and the value of shares (N 1.9 bn) increased by 4%.
The top 5 gainers on the bourse today were as follows:
The top 5 losers were:
Activity on the bourse was led by primarily cross deals in UBA and FCMB. The analysis as follows:
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