February 25, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Monday inched up +0.36 percent on gains in Banking, Consumer Goods counters.

InvestmentOne update reports that market movers as at this time are insurer, Royal Exchange Assurance Plc and mid tier lender, Wema Bank Plc; both are up +9.09 percent and +7.14 percent apiece, on the flip-side, cement manufacturer, Lafarge Cement Wapco Nigeria Plc and oil marketing major, Total Nigeria Plc are both down -3.46 percent and -2.56 percent respectively.

In terms of sector performance, the report says the Consumer Goods and Banking sectors have gained +0.92 percent and +0.87 percent each, while the Industrial and Oil & Gas sectors are down -0.44 percent and -0.33 percent each.

InvestmentOne reports that market activity in Monday’s early trade, shows that total volume and value rose by 14 percent and 527 percent respectively compared to this time last Friday as investors have exchanged about 66 million units of shares worth about N3.73 billion.

Top tier beer producer, Nigerian Breweries Plc with a gain of +4.00 percent is the most actively traded stock with 42 million units of shares accounting for about 64 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 and Banking names continue,” the InvestmentOne update added.