July 30, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market as at midday Monday is up +0.16 percent and driven by gains across most sectors.
InvestmentOne reports that market movers as at the review period are insurer, Nem Insuance Plc, drugmaker, GlaxoSmithKline Pharmaceuticals Plc; both have appreciated +9.66 percent and +7.93 percent each.
Mid-tier lender. Wema Bank Plc and Nascon Allied Industries Plc both are down -5.56 percent and -2.44 percent apiece.
In terms of sector performances, InvestmentOne reports that the Banking and Consumer Goods indices are up +0.39 percent and +0.24 percent respectively. In the same vein, the Oil & Gas and Industrial indices, both appreciated +0.12 percent each.
According to the update, market activity in Monday’s early trade shows that total volume and total value declined by 56 percent and 24 percent respectively; compared to this time last Friday, as investors have exchanged 52 million units of shares worth N1.58 billion.
United Bank for Africa Plc with a gain of +1.03 percent is the most actively traded stock with 26 million units of shares accounting for about 50 percent of total volume.
“Likely close: In the absence of a significant loss in DANGCEM, we may see the market close up today if the gains across most sectors continues,”InvestmentOne affirmed.