December 5, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Wednesday is up +0.20 percent on buy interest in the Industrial Goods sector.

InvestmentOne reports that market movers are Diamond Bank Plc and Wapic Insurance Plc; both have gained +8.97 percent and +8.11 percent each, while on the flip-side are Mutual Benefit Assurance Plc and Oando Plc; both have lost -8.70 percent and -2.13 percent apiece.

In terms of sector performance, the Nigerian Stock Exchange (NSE) Industrial is up +0.69 percent, Banking and Oil & Gas sectors down -0.48 percent and -0.26 percent each, the Consumer Goods has also depreciated.

InvestmentOne update says that market activity in Wednesday’s early trade, shows that total volume and value traded declined by 56 percent and 79 percent apiece compared to this time on Tuesday as investors have exchanged 17 million units of shares worth about N104 million.

According to the report, FBN Holdings Plc with a gain of +0.66 percent is the most actively traded stock with 6 million units of shares accounting for about 35 percent of total volume.

“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the buy interest in Industrial sector continues,” InvestmentOne added.