March 11, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Monday is down -0.70 percent on Losses in Banking and Consumer Goods counters.

The update says market movers are Cornerstone Insurance Plc and Zenith Bank Plc both have depreciated -8.70 percent and -8.42 percent each, while Veritas Kapital Plc and Union Diagnostics and Clinical Services Plc have appreciated +4.76 percent and +3.45 percent.

In terms of sector performances InvestmentOne reports the Banking and Consumer Goods sectors have lost -2.11 percent and -0.83 percent apiece, the Oil & Gas and Industrial sectors are also down.

According to the report, market activity in Monday’s early trade, shows that while total volume declined by 46 percent, total value increased by 108 percent compared to this time last week Friday as investors have exchanged about 58 million units of shares worth about N1.28 billion.

FBN Holdings Plc with a gain of +1.23 percent is the most actively traded stock with 27 million units of shares accounting for about 47 percent of total volume.

“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the losses in the Banking and Consumer names continue,” the InvestmenytOne update added.

Also, Zenith Bank Plc was marked down on Monday for the payment of its final dividend.