November 7, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Wednesday is up 0.01 percent and driven by gains in the shares of top tier lender, Zenith Bank Plc.
InvestmentOne update says that market movers as at the time of filing in this report are Dangote flour Mills Plc and courier company, Red Star Express Plc; both are up +10.00 percent and +7.14 percent apiece, while on the negative side, we have cement manufacturer, Lafarge Cement Wapco Nigeria Plc and beer producer, Champion Breweries Plc; both have declined -7.47 percent and -4.61 percent respectively.
In terms of sector performance, the Nigerian Stock Exchange (NSE) Banking sector is up +0.29 percent, while the Industrial and Oil & Gas sectors have depreciated -1.81 percent and -0.12 percent apiece, also, the Consumer Goods index is down by -0.12 percent.
InvestmentOne reports that market activity in Wednesday’s early trade, shows that total volume and total value jumped by 681 percent and 630 percent respectively compared to this time on Tuesday as investors have exchanged 328 million units of shares worth about N7.10 billion.
Zenith Bank Plc with a gain of +0.21 percent is the most actively traded stock with 280 million units of shares accounting for about 85 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 Banking sector continues,” the InvestmentOne update affirmed
