Nigeria Daily Stock Market Report, 25th November, 2013

The week started off on a bearish note as the All Share Index lost 6 basis points, bringing the return to 39.7 per cent. About 545.2 million shares were traded in today’s proceedings. Transcorp, UnityBank, Skye Bank and Access Bank led the volume chart.

Market participants took profit on the shares of Transcorp as it lost 9.54 per cent today to close at N5.31. Transcorp had gained 61.7 per cent last week and 222.0 per cent. In the Insurance sub-sector, Prestige Insurance was         divergent to the bearish trend with a 10.0 per cent price gain to close at N0.66.

The banking sub-sector gained 1.37 per cent, however, some Tier-2 banks such as Unity Bank and Wema Bank lost grounds by 5.8 per cent and 4.8 per cent respectively.

Within the building materials sub-sector, Wapco recorded a 5.0 per cent loss, while Dangote cement and Ashaka cement traded flat. Other top gainers today were Presco, Union Dicon and Jos Breweries with gains of 5.0 per cent, 4.97 per cent and 4.94 per cent respectively.