November 2, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Friday is up +0.35 percent and driven by gains in bellwether counters.
InvestmentOne reports that market movers on the positive side are Dangote Sugar Refinery Plc and Dangote Flour Mills Plc; both have appreciated +9.45 percent and +8.18 percent each; while on the negative side are Unity Bank Plc and insurer, Nigerian Insurance Plc; both have depreciated -8.97 percent and -7.69 percent apiece.
In terms of sector performance, InvestmentOne reports that the Banking and Oil & Gas indices are up +0.95 percent and +0.89 percent respectively; while the Consumer Goods gained by +0.56 percent, the Industrial is also on the bullish side.
The report says market activity in Friday’s early trade, shows that total volume and total value declined by 4 percent and 60 percent respectively compared to this time on Thursday as investors have exchanged 48 million units of shares worth about N407 million.
FBN Holdings Plc with a loss of -0.65 percent is the most actively traded stock with 20 million units of shares accounting for about 42 percent of total volume.
“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains across most sectors continue,” the InvestmentOne update affirmed.
