December 17, 2018
By InvestAdvocate
Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Monday is down -0.16 percent and driven by losses across sectors.
InvestmentOne reports that market movers are oil marketing majors, Forte Oil Plc and Oando Plc; both have declined -9.75 percent and -3.03 percent each, Diamond Bank Plc and cement producer, Cement Company of Northern Nigeria Plc have gained +9.47 percent and +9.24 percent apiece.
The update reports that sector performances shows the Oil & Gas and Consumer Goods sectors are down -1.04 percent and -0.30 percent respectively. In the same vein, the Banking and Industrial sectors have lost -0.29 percent and +0.33 percent each.
In terms of market activity, InvestmentOne reports that in Monday’s early trade, while total volume declined 24 percent, total value increased by 179 percent compared to this time last week Friday as investors have exchanged about 88 million units of shares worth about N640 million.
Diamond Bank Plc with a gain of +9.47 percent is the most actively traded stock with 66 million units of shares accounting for about 75 percent of total volume.
“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the losses across most sectors continue,” the update added.
