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Nigeria Stock Exchange Watch: ASI (+0.46%) Climbs Despite Barrage Of Profit Taking

By on January 22, 2013

The All Share Index climbed 46 basis points in a surprising turn of events. The positive performance was unexpected due to the barrage of profit taking activity that visited the market today.

The selling activity brought the banking sub-sector to a crawl as only 5 participants recorded positive appreciation, whereas 9 participants were in the red.

FBN Holding (+0.78%), Union (+1.01%) and Stanbic (+0.75%) were on the marginal side of the positive performers. Unity (+5.26%) and Wema (+4.92%) also bucked the trend.

Access, Zenith, Diamond, UBA and Sterling were some of the stocks on the other side of the green.

Guinness and Nigeria Breweries also lost marginal points today, shedding 70 and 65 basis points respectively.

International Breweries (+9.97%) was almost limit up in performance.

Dangote Cement (+3.57%) gained, as did other cement manufacturers CCNN (+4.98%) and WAPCO (+0.46%).

Ashaka Cement (-9.87%) was down after the day’s session.

The market capitalization of the bourse stands at N9.9 trillion.

554 million shares valued at N4.1 billion were traded today.