September 12, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Wednesday is down -0.44 percent, driven by losses in the Banking and Consumer Goods sectors.
InvestmentOne reports that market movers are Access Bank Plc and Flour Mills of Nigeria Plc; both down -12.22 percent and -6.98 percent each.
Cable manufacturer, Cutix Plc and first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company, both are up +1.27 percent and +0.61 percent respectively.
In terms of sector performance, the Banking and Consumer Goods sectors have depreciated -1.68 percent and -0.20 percent apiece, while Oil & Gas and Industrial sectors have gained +0.18 percent and +0.01 percent each.
InvestmentOne reports that market activity in today’s early trade shows that while total volume declined by 15 percent, total value rose by 65 percent compared to this time on Tuesday as investors have exchanged 24 million units of shares worth N432 million.
Tier one lender, Guaranty Trust Bank Plc with a loss of -0.62 percent is the most actively traded stock with 9 million units of shares accounting for about 38 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 losses in the Banking and Consumer Goods sectors continue,” the report affirmed.