Nigerian Stock Market Statistics (Tuesday, 7th February, 2012)

The week started off on a bearish note, with the NSE All-Share Index falling by 41bps. The banking sector was skewed to the sell side, with top-tier banks either recording losses or closing flat. Zenith Bank and UBA recorded no change, with prices fluctuating around current levels. Closing offers for UBA could however adversely affect its price further, while closing bids at the lower end of the market could also lead to losses for Zenith Bank. Re-entries by participants during the session cleared available offers of Oando, consolidating on previous gains with a 5.0 per cent mark-up. Eterna Oil also closed on the up-tick with a 4.8 per cent gain, while others in the sector recorded no price change. Dangote Cement inched up slightly on the back of crossed deals, though sentiments were skewed to the sell side throughout the session, a trend that could lead to losses tomorrow. Other companies in the sector recorded no change.
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