March 14, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian equities market as at midday Thursday is down -0.23 percent on losses recorded so far in the Industrial and Oil & Gas sectors.
InvestmentOne update reports that market movers are leading share registration service provider in the Nigerian capital market, Africa Prudential Plc and peer, United Capital Plc; both have declined -10.99 percent and -9.04 percent each, while Sterling Bank Plc and insurer, Nem Insurance Plc are up +5.93 percent and +5.04 percent each.
In terms of sector performances, the update says the Industrial and Oil & Gas sectors are down -0.52 percent and -0.25 percent apiece, while the Banking and Consumer Goods sectors are up +0.16 percent and +0.01 percent respectively.
According to InvestmentOne, market activity in Thursday’s early trade, shows that while total volume declined by 40 percent, total value increased by 136 percent compared to this time on Wednesday as investors have exchanged about 59 million units of shares worth about N926 million.
Top tier lender, Zenith Bank Plc with a loss of -0.89 percent is the most actively traded stock with 36 million units of shares accounting for about 61 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 Industrial and Oil & Gas sectors continue,’ the InvestmentOne update affirmed.
