July 20, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian Stocks midday on Friday dipped -0.10 percent on sell-offs in Banking sector, according to InvestmentOne market update.
The update says that market movers are First Aluminum Plc and Japaul Oil & Maritime Plc which declined -9.76 percent and -8.82 percent; while Eterna Plc and Oando Plc appreciated by +9.42 percent and +7.69 percent respectively.
In terms of sector performances, InvestmentOne reports that Banking and Consumer Goods indices lost -0.93 percent and -0.01 percent each; while the Oil & Gas and Industrial indices gained +1.12 percent and +0.52 percent respectively.
The update says market activity in Friday’s early trade shows that total volume and total value increased by 73 percent and 230 percent respectively compared to this time on Thursday, as investors have exchanged 83 million units of shares worth N1.16 billion.
Zenith Bank Plc with a gain of +0.22 percent is the most actively traded stock with 38 million units of shares accounting for about 46 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 sell-off in Banking sector continues,” InvestmentOne report added.
