October 18, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks midday Thursday is up +1.23 percent on gains in Banking and Industrial Goods sectors.
InvestmentOne reports that market movers are cement producers, Dangote Cement Plc and insurer, Hallmark Insurance Plc; both are up +4.50 percent and +3.57 percent each, While on the flipside, Nascon Allied Industries Plc and Wapic Insurance Plc are down -7.04 percent and -6.98 percent respectively.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Industrial and Banking indices have gained +2.39 percent and +0.27 percent apiece, while the Consumer Goods and Oil & Gas sectors are down -0.22 percent each.
According to the InvestmentOne report, market activity in Thursday’s early trade, shows that while total volume declined by 38 percent, total value improved by 55 percent compared to this time on Wednesday as investors have exchanged 50 million units of shares worth about N993 million.
Top tier lender, Zenith Bank Plc with a gain of +1.11 percent is the most actively traded stock with 33 million units of shares accounting for about 66 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 Industrial and Banking sector continue,” the InvestmentOne update said.
