June 14, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) as at midday Thursday is down -0.30 percent, driven by sell-offs in Banking and Consumer Goods counters, accrding to InvestmentOne Report
The report says market movers include insurer, Mutual Benefit Assurance Plc and Neimeth International Pharmaceuticals Plc which is down by -6.06 percent and -4.76 percent apiece; while Japaul Oil & Maritime Services Plc and C & I Leasing Plc are up +5.56 percent and +4.85 percent respectively.
In terms of sector performances, the Banking and Consumer Goods indices are down -0.61 percent and 0.39 percent each, while on the positive side is the Oil & Gas and Industrial Goods indices up +0.08 percent apiece.
According to InvestmentOne, in today’s early trade, total volume and total value declined by 60 percent and 62 percent respectively compared to this time on Wednesday, as investors have exchanged 86 million units of shares worth N648 million.
United Capital Plc with a gain of +2.85 percent is the most actively traded stock with 50 million units of shares accounting for about 58 percent of total volume.
“In the absence of a significant gain in DANGCEM, we may see the market close down today if the sell-off in the Consumer Goods and Banking names continues,” InvestmentOne report added.
