October 30, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian Stocks as at midday Tuesday is up +0.92 percent and driven by gains in the Industrial counters, according to InvestmentOne update.
The update says market movers are food and beverage maker, Cadbury Nigeria Plc, up by +5.26 percent, cement producer, Dangote Cement Plc which has appreciated by +3.48 percent, while on the flip-side we have Dangote Flour Mills Plc and insurer, Linkage Assurance Plc both down -9.52 percent and -4.55 percent apiece.
In terms of sector performances, the Industrial has gained +2.16 percent, while the Banking and Oil & Gas sectors are down -0.34 percent and -0.25 percent each, the Consumer Goods index is down by -0.07 percent.
According to the InvestmentOne update, market activity in Tuesday’s early trade, showed that total volume and value increased by 326 percent and 1092 percent respectively, compared to this time on Monday as investors have exchanged 98 million units of shares worth about N3.73 billion.
Tier one lender, Guaranty Trust Bank Plc with a loss of -1.17 percent is the most actively traded stock with 51 million units of shares accounting for about 52 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 the Industrial sectors continue,” InvestmentOne reports.
