Nigerian Stock Exchange Watch: Market Records Highest Daily Performance of 2012 on Friday

Investors had enough reason to TGIF yesterday as, the Nigerian Stock Exchange, recorded a bullish performance and the highest daily return of the year. The All Share Index surged by 1.97% to close at 20,592.02.

Dangote Cement, the bourse’s most capitalized stock picked up the maximum 5% allowed. This coupled with the largely bullish performance of the banking sector was responsible for the exchange’s positive surge.

UBA (+4.93%) has continued its non-stop rally uninterrupted, its gains since February 14^th currently stands at 80%.

Other bank equities that recorded a strong outing include Zenith (+4%), First Bank (+2.52%), FCMB (+4.10%), Access (+1.87%), GTBank (+0.99%) and Skye (+1.19%).

On the flip side were Stanbic (-2.57%), and Sterling (-1.97%) recording losses in the Friday session.

Other Infrastructure equities up yesterday included Ashaka (+1.72%), CCNN (+1.09%), and Julius Berger (+4.97%).

Across the Consumer Goods sector the following stocks recorded a price appreciation, Nigerian Breweries (+1.03%), Cadbury (+4.92%), Honeywell (+4.63%) and Dangote Flour (+0.24%).

The Insurance sub-sector the winners were Continental Reinsurance (+4%), and Intercontinental Wapic (+4%). On the flip were Goldlink (-4.48%) and Allied (-2.47%).

Yesterday’s top price gainers were:

Recording the highest losses in price were the following equities:

The activity charts were dominated by financial services sector stocks: