February 6, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Wednesday has inched up +0.04 percent and driven by gains in the Banking counters.

InvestmentOne update reports that market movers are Book publishing firm Learn Africa Plc  and insurer, Regency Alliance Insurance Co Plc, both are up +9.49 percent and +4.55 percent each, while Honeywell Flour Mills Plc and manufacturer and marketer of animal feeds and concentrates, Livestock Feeds Plc are down -8.33 percent and -5.66 percent respectively.

The update reports that in terms of sector performance, the NSE Banking has gained +0.22 percent, while the Consumer Goods is down -0.03 percent, the Oil & Gas and Industrial are also on the decline.

In terms of market activity, InvestmentOne reports that Wednesday’s early trade, shows that total volume and value decreased by 16 percent and 63 percent respectively compared to this time on Tuesday as investors have exchanged about 52 million units of shares worth about N534 million.

FBN Holdings Plc with a gain of -0.67 percent is the most actively traded stock with 28 million units of shares accounting for about 54 percent of total volume.

“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gain in Banking sector continues,” the InvestmentOne update affirmed.