October 16, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Tuesday is up +0.08 percent and driven by gains in the Consumer Goods, Oil & Gas counters.
InvestmentOne update says market movers are soap and detergent producers Unilever Nigeria Plc and Dangote Flour Mills Plc; both are up +5.58 percent and +1.27 percent apiece. On the flipside, Nigeria’s leading identity management and transaction payments systems solution provider, Chams Plc and mid tier lender Wema Bank Plc are down -7.69 percent and -7.35 percent each. .
In terms of sector performance, the NSE Consumer Goods index with a gain of +0.38 percent and the Oil & Gas sector with a marginal appreciation of +0.01 percent are currently on the positive side; while the Banking and Industrial sectors are down -0.22 percent respectively.
In terms of market activity, InvestmentOne reports that in Tuesday’s early trade, total volume and value increased by 3344 percent and 215 percent respectively compared to this time on Monday as investors have exchanged 551 million units of shares worth about N1.37 billion.
According to the update, Sunu Assurances Nigeria Plc is the most actively traded stock with 497 million units of shares accounting for about 90 percent of total volume.
“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains in Consumer Goods and Oil & Gas sectors continue,” the InvestmentOne update affirmed.