October 23, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (ASI) as at midday Tuesday is up +0.77 percent amid gains in Industrial counters.
InvestmentOne reports that market movers are Laboratory Services Company, Union Diagnostic & Clinical Services Plc and Dangote Cement Plc; both have gained +10.00 percent and +2.86 percent each, while on the flip-side are drugmaker, Neimeth International Pharmaceuticals Plc and UAC of Nigeria Plc which has depreciated -9.26 percent and -1.48 percent each.
In terms of sector performance, InvestmentOne reports the Industrial sector has gained +1.47 percent, while the Banking, Consumer Goods and Oil & Gas indices are down -0.56 percent, -0.31 percent and -0.12 percent respectively.
In terms of market activity in Tuesday’s early trade, total volume and total value declined by 44 percent and 31 percent apiece compared to this time on Monday as investors have exchanged 59 million units of shares worth about N998 million.
According to the update, lender, First City Monument Bank Limited is the most actively traded stock with 16 million units of shares accounting for about 27 percent of total volume.
“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gain in the Industrial sector continues,” the InvestmentOne report affirmed.
