February 8, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Equities market as at midday Friday is up +1.19 percent and driven by gains in the shares of Africa’s global lender, United Bank for Africa Plc which has climbed up by +4.08 percent.

InvestmentOne update reports that market movers are mid-tier lender, Unity Bank Plc and Wapic Insurance Plc; both are up +10.00 percent and +10.00 percent each, while insurers, Consolidated Hallmark Insurance Plc and AIICO Insurance Plc are both down  -6.90 percent and -6.67 percent.

In terms of sector performances, the Nigerian Stock Exchange (NSE) Oil & Gas Banking sectors are up +3.48 percent and +2.23 percent apiece, the Consumer Goods sector also rose by +0.99 percent and the Industrial is up.

The update says market activity in Friday’s early trade, shows that total volume and value jumped 1275 percent and 782 percent compared to this time on Thursday as investors have exchanged about 399 million units of shares worth about N5.90 billion.

Africa’s global lender, United Bank for Africa Plc with a gain of +4.08 percent is the most actively traded stock with 125 million units of shares accounting for about 31 percent of total volume.

“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains across most sectors continue,” the InvestmentOne update affirmed.