March 1, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all- share index (NSEASI) as at midday Friday has inched up +0.36 percent on gains in the Banking counters.
InvestmentOne midday update reports that market movers as at the time of filing in this report are lenders, Wema Bank Plc and First City Monument Bank; both are up +4.05 percent and +3.45 percent each, on the flip-side, Jaiz Bank Plc and Royal Exchange Assurance Plc are both down -9.23 percent and -8.33 percent respectively.
In terms of sector performance, InvestmentOne reports that the Banking sector has gained +1.36 percent, while the Industrial and Consumer Goods sectors have declined -0.08 percent and -0.06 percent each, the Oil & Gas sector has also declined .
According to the update, market activity in Friday’s early trade, shows that total volume declined by 8 percent, while value increased by 11 percent compared to this time on Thursday as investors have exchanged about 122 million units of shares worth about N1.26 billion.
Nigeria’s top tier conglomerate, Transnational Corporation of Nigeria Plc with a loss of -3.08 percent is the most actively traded stock with 32 million units of shares accounting for about 24 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 Banking sector persist,” the InvestmentOne update added.
