February 21, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Thursday is up +0.27 percent on gains in Banking, Consumer Goods counters.

InvestmentOne update reports that market movers are -Drugmakers, Fidson Healthcare Plc and GlaxoSmithKline Consumer Nigeria Plc, both have gained +5.32 percent and +3.90 percent each, while UAC of Nigeria Plc and United Capital Plc are down -5.00 percent and -4.90 percent apiece.

In terms of sector performances, the Consumer Goods and Banking sectors are up +0.49 percent and +0.40 percent respectively, the Industrial has depreciated by -0.56 percent, while the Oil & Gas sector has also declined.

According to InvestmentOne, market activity in Thursday’s early trade, shows that total volume and value declined by 32 percent and 73 percent respectively compared to this time on Wednesday as investors have exchanged about 84 million units of shares worth about N838 million.

First City Monument Bank is the most actively traded stock with 11 million units of shares accounting for about 13 percent of total volume.

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