By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian Stocks as at midday on Thursday May 31, sustained its downward trend which has plagued it over the week, the all-share index (ASI) as at 12.00 noon is down -0.68 percent, according to InvestmentOne update.
The update says that market movers in the review period are beer producer, International Breweries Plc and lender, Skye Bank Plc leading the losers chart with -9.64 percent and 7.04 percent loss respectively; while cement manufacturer, Cement Company of Northern Nigeria Plc and Islamic banker, Jaiz Bank Plc emerged top gainers with a gain of +10.12 percent and 4.76 percent apiece.
In terms of sector performances, InvestmentOne reports that the Consumer Goods and Oil & Gas sectors are down -1.18 percent and -1.05 percent respectively, also the Banking and Industrial Goods indices are posting -0.93 percent and -0.29 percent losses each.
The update says that market activity in today’s early trade has seen the total volume and value traded increase by +1,096 percent and +5,708% respectively compared to this time on Wednesday, as investors have exchanged 1.33 billion units of shares worth N65 billion.
InvestmentOne reports that Stanbic IBTC which has so far lost -4.95 percent is the most actively traded stock with 1.1billion units of shares off market trade, accounting for about 85 percent of total volume.
“Likely close: In the absence of a significant gain in DANGCEM, we may see the market close down today if the bearish sentiments across all sectors continues,’ the update affirmed.
