September 6, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Thursday is up +0.07 percent, on continuous gains in the Industrial sector.
InvestmentOne reports that market movers are insurer, Linkage Assurance Plc and Africa’s global lender, the United Bank for Africa Plc; both up by +2.94 percent and +1.25 percent each. Standard Alliance Insurance Plc and AIICO Insurance Plc are down -8.57 percent and -7.78 percent apiece.
According to the report, in terms of sector performances, the Industrial Goods sector is up +0.26 percent, while the Banking sector is down -0.36 percent. In the same vein, the Consumer Goods and Oil & Gas indices have both depreciated -0.01 percent respectively.
InvestmentOne reports that market activity in Thursday’s early trade, while total volume declined by 45 percent, total value jumped 16 percent compared to this time On Wednesday, as investors have exchanged 23 million units of shares worth N327 million.
Top tier lender, Guaranty Trust Bank Plc with a loss of -0.55 percent is the most actively traded stock with 6 million units of shares accounting for about 26 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 in Industrial sector continues,’ the report affirmed.