September 11, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (NSEASI) as at midday Tuesday is down -0.42 percent; and driven by losses in the Banking sector.
InvestmentOne reports that market movers are Universal Insurance Plc and Guaranty Trust Bank Plc; both down -9.09 percent and -4.20 percent each, while Law Union & Rock Insurance Plc and Dangote Flour Mills Plc are up +10.00 percent and +7.01 percent respectively.
In terms of sector performance, the Banking sector is down by -1.95 percent, while the Oil & Gas is up +0.26 percent, the Consumer Goods and Industrial counters have appreciated +0.09 percent apiece.
According to the InvestmentOne report, market activity in Tuesday’s early trade, shows that total volume and total value declined by 33 percent and 9 percent respectively compared to this time on Monday as investors have exchanged 28 million units of shares worth N262 million.
Africa’s global lender, the United Bank for Africa Plc with a loss of -2.56 percent is the most actively traded stock with 5 million units of shares accounting for about 17 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 loss in the Banking sector continues,” the InvestmentOne report affirmed.
