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Intraday Update: NSEASI Down -0.31% on Sell-Offs

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July 24, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Tuesday is down -0.31 percent and driven by sell-offs across most sectors.

InvestmentOne says as at the time of filing in this report that  market movers on the domestic bourse are insurers, Sovereign Insurance Plc and Wapic Insurance Plc both down -8.00 percent and -4.76 percent each, while cable maker, Cutix Plc and Custodian Investment Plc are up +10.00 percent and +9.91 percent respectively.

According to the update, in terms of sector performances, the Industrial has dipped -3.41 percent, the Oil & Gas also declined -0.05 percent. While on the positive side, the Consumer Goods and Banking indices are up +0.03 percent and +0.07 percent apiece.

The report says market activity in Tuesday’s early trade, showed that total volume and total value increased by 158 percent and 185 percent respectively compared to this time on Monday, as investors have exchanged 93 million units of shares worth N1.91 billion.
Top tier lender, Zenith Bank Plc with a gain of +0.65 percent is the most actively traded stock with 17 million units of shares accounting for about 18 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 selloff across most sectors continues,” the InvestmentOne update affirmed.

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