December 4, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian Stocks as at midday Tuesday is up +0.29 percent on gains in Banking, Consumer Goods names.
InvestmentOne update reports that market movers are insurer, Axa Mansard Insurance Plc and Diamond Bank Plc; both have appreciated +9.89 percent and +9.86 percent each, while on the flip-side are ABC Transport Plc and re-insurer, Continental Reinsurance Plc; both have depreciated -7.14 percent and -5.56 percent each.
In terms of sector performance, InvestmentOne reports that the Banking and Consumer Goods sectors have gained +0.55 percent and +0.18 percent apiece, while the Oil & Gas and Industrial sectors are down by -0.62 percent respectively.
According to the report, market activity in Tuesday’s early trade, shows that total volume and value traded declined by 53 percent and 57 percent respectively compared to this time on Monday as investors have exchanged 39 million units of shares worth about N505 million.
The update says that First City Monument Bank is the most actively traded stock with 8 million units of shares accounting for about 21 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 Banking and Consumer Goods sector continues,” the update affirmed.
Warm regards,
