December 28, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian stocks as at midday Friday is down -1.56 percent on losses across sectors.

InvestmentOne update reports that market movers are oil marketer, Forte Oil Plc and mid tier lender, Unity Bank Plc; both are down -9.90 percent and -9.26 apiece, on the positive side are Diamond Bank Plc and publisher, University Press Plc; both have gained +9.94 percent and +9.00 percent each.

According to the report, in terms of sector performance, the Nigerian Stock Exchange (NSE) Oil & Gas and Consumer Goods indices are down -4.34 percent and -3.72 percent respectively, in the same vein, the Industrial and Banking sectors have depreciated -0.92 percent and -0.31 percent apiece.

The update says that market activity in Friday’s early trade, shows that total volume and value increased by 1,127 percent and 302 percent compared to this time on Thursday as investors have exchanged about 1.36 billion units of shares worth about N3.76 billion.

Mid tier lender, Wema Bank Plc with a gain of +8.93 percent is the most actively traded stock with 657 million units of shares accounting for about 48 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 all sectors persist,” the InvestmentOne update affirmed.