January 21, 2019
By Yakubu LAAH InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Monday is down 0.50 percent AND heading southward on losses in Banking, Oil & Gas counters.
InvestmentOne update reports that market movers are first dual listed Nigerian oil and gas upstream firm, Seplat Petroleum Development Company Plc and cement manufacturer, Lafarge Cement Wapco Nigeria Plc; both have depreciated -7.99 percent and -6.25 percent each, while insurer, Nem Insurance Plc and Cement Company of Northern Nigeria Plc; both are up +9.68 percent and +7.57 percent apiece.
In terms of sector performances, InvestmentOne report says the Oil & Gas and Banking sectors have plunged -3.69 percent and -0.08 percent respectively, while the Industrial index have gained by +1.22 percent, the Consumer Goods sector has also recorded gains.
The update reports that market activity in Monday’s early trade, shows that total volume and value declined by 42 percent and 50 percent respectively compared to this time last Friday as investors have exchanged about 64 million units of shares worth about N928 million.
Nem Insurance Plc with a gain of +9.68 percent is the most actively traded stock with 18 million units of shares accounting for about 28 percent of total volume.
“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the losses in the Oil & Gas and Banking sectors persist,’ the update affirmed.
