November 21, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Wednesday has inched up +0.02 percent on gains recorded in the Consumer Goods sector.
InvestmentOne update says, market movers are Laboratory Services Company, Union Diagnostic & Clinical Services Plc and insurer, Veritas Kapital Assurance Plc; both are up +8.70 percent and +8.70 percent each, while on the flip-side are food and beverage producer, Cadbury Nigeria Plc and Red Star Express Plc; both down -3.14 percent and -2.22 percent apiece.
In terms of sector performance, InvestmentOne reports the Nigerian Stock Exchange (NSE) Consumer Goods index is up +0.06 percent, the Banking sector is down -0.51 percent, also on the decline is the Oil & Gas and Industrial indices.
The update says market activity in Wednesday’s early trade, shows that total volume and total value traded increased by 127 percent and 36 percent respectively compared to this time on Monday as investors have exchanged 50 million units of shares worth about N1.33 billion.
Stanbic IBTC with a gain of +4.17 percent is the most actively traded stock with 9 million units of shares accounting for about 18 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 Consumer Goods sector continues,” the InvestmentOne report affirmed.
