Stock Market Watch: ASI Retreats To 20,000 Threshold

The Nigerian Stock Exchange was in the red today, shedding 51 basis points and dragging the ASIdown to 20,000 points.

Losses across the top tier banks set the trend for a predominantly bearish banking sector. First Bank, UBA, Zenith and GTBank lost 3.66%, 1.19%, 0.86% and 0.77% of their stock value.

Access, Ecobank, Diamond and Skye also suffered losses of 490, 404, 367, and 345 points respectively.

Stanbic, Sterling, and regional players Unity and Wema firmed up on their prices today.

Across the breweries sub-sector of the Consumer goods space, Nigerian Breweries gained a marginal 44 points, even as International Breweries shed the full 500 points. All other counters remained unchanged.

The infrastructure sector was all the way bearish today. CCNN, Ashakacem, and Wapco were all down in trading today, suffering losses of 4.85%, 3.29%, and 1.31% respectively.

Roads Plc managed to buck the trend and appreciate by 4.92%.

The Food and Beverages segment of the consumer goods sector recorded no single uptick today. Dangote Sugar, Dangote Flour and Cadbury lost 336, 209, and 279 points apiece. Nestle also dropped a marginal 87 points.

Law Union and Rock Insurance led the financial services sub-sector with an appreciation of 3.85% even as GT Assurance reversed on previous day gains and shed 452 points.

Oando Plc was the only ticker that recorded any movement in the Oil and gas sector as the company gained a marginal 0.78%.

200 million shares valued at just under N 2 Billion exchanged hands on the exchange floor today.