Stock Market Watch: ASI Gains 26 Points

The Nigerian stock market saw a reversal of its fortunes today as the ASI gained 26 points to close a t 20,015.66.

The breweries sub-sector of the consumer goods sector led the market today as two participants, Guinness and Nigerian Breweries were amongst the top five leaders by share appreciation. Guinnes added 4.99% to the value of its stock whilst Nigerian Breweries added 4.89%.

The banking sector had no such luck as virtually all the stocks in this grouping depreciated in trading. Ecobank lost the full 500 points allowed, GTBank followed crashing by 4.93%. Diamond, FCMB and Sterling each lost above 400 points. Marginal losses were sustained by top-tier UBA and First Bank as they shed 80 and 11 points each.

Access and Zenith bank were the only stocks to buck against the trend today as they recorded marginal increases, appreciating by 21 and 26 points apiece.

Cement manufacturer CCNN appreciated by 21 points today.

Conglomerates UACN, Transcorp and Unilever recorded bullish performance today, rising by 175, 274 and 54 points today.

Across the Food and Beverages sub-sector, two of three Dangote subsidiaries recorded negative performance. Specifically Dangote Flour and Dangote Sugar shed 196 and 455 points. Cadbury lost 54 points. And Nascon appreciated by 25 points.

Continental Reinsurance was heavily traded today as over ten million units changed hands. The stock appreciated by 3.16%. Other insurance companies in the green today include Intercontinental WAPIC (+4%) and Law, Union & Rock (+3.45%).

Over 208 million shares valued at just less than N 2 Billion changed hands today.