By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market as at 12.00 noon on Monday June 4, 2018 is down -0.05 percent; driven by sell-offs in Banking and Industrial Goods counters, according to a report by InvestmentOne Research.
As at midday, market movers such as insurer, Lasaco Insurance Plc and micro-lender, NPF Microfinance Bank Plc are the highest losers by 10.53 percent and 9.33 percent apiece; while Japaul Oil & Maritime Services Plc and insurer, AIICO Insurance Plc are the topmost gainers by 4.55 percent and 3.45 percent respectively.
According to InvestmentOne update in terms of sector performances, the Industrial and Banking indices are down by 2.12 percent and 0.32 percent each, while on the up side is the Consumer Goods and Oil & Gas indices appreciating 0.68 percent apiece.
In terms of market activities, in Monday’s early trade, total volume and value traded declined by 39 percent and 25 percent respectively compared to this time last Friday, as investors have exchanged 90 million units of shares worth N1.01 billion.
Insurer, Sovereign Insurance Plc is the most actively traded stock with 32 million units of shares accounting for about 35 percent of total volume.
“In the absence of a significant gain in Dangote Cement Plc, we may see the market close down today if the selloff in the Industrial and Banking sectors persists,” the update affirmed.
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