March 19, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as midday Tuesday is down -0.47 percent on losses across most sectors.

InvestmentOne update reports that market movers are Ikeja Hotels Plc and brewer, Nigerian Breweries Plc; both have plunged -9.09 percent and -6.40 percent each, while food processing and packaging company, McNichols Consolidated Plc  and NPF Microfinance Bank Plc have appreciated +10.00 percent and +5.30 percent apiece.

In terms of sector performances, the Consumer Goods and Oil & Gas sectors have declined -1.40 percent and -0.62 percent respectively, the Industrial have lost by -0.10 percent and the Banking is also down.

According to the report, market activity in Tuesday’s early trade, shows that total volume and value rose by 65 percent and 51 percent respectively compared to this time on Monday as investors have exchanged about 119 million units of shares worth about N1.17 billion.

Tier one lender, Access Bank Plc with a gain of +0.85 percent is the most actively traded stock with 52 million units of shares accounting for about 44 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 most sectors continue,” the InvestmentOne update added.