August 20, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Monday is down -0.36 percent and driven by selloffs across most sectors.
Investmentone Update reports that market movers are soap and detergent producer, PZ Cussons Nigeria Plc and Zenith Bank Plc; both are down by -7.12 percent and -1.77 percent respectively. While Newrest ASL Nigeria Plc and Skye Bank Plc are up by +8.99 percent and +4.17 percent apiece.
In terms of sector performance, the report says the Banking and Consumer Goods indices have declined -1.33 percent and -0.21 percent each. In the same vein, the Oil & Gas and Industrial indices have plunged -0.94 percent apiece.
As at the time of filing in this report, market activity in Monday’s early trade shows that total volume and total value declined by 84 percent and 67 percent respectively compared to this time last Friday, as investors have exchanged 45 million units of shares worth N613 million.
Africa’s global lender, the United Bank for Africa Plc is the most actively traded stock with 9 million units of shares accounting for about 20 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 across most sectors continues,” the InvestmentOne update affirmed.
