March 28, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-As at midday Thursday, the Nigerian Stock Exchange all-share index (NSEASI) is down -0.16 percent following losses recorded so far in the Banking sector.

InvestmentOne update reports that market movers at the review period  are lender, Union Bank of Nigeria Plc and drugmaker, May & Baker Nigeria Plc; both are down -4.93 percent and -2.04 percent each, while on the positive side are ABC Transport Plc and insurer, Wapic Insurance Plc; both have gained +8.16 percent and +2.56 percent apiece.

In terms of sector performances, InvestmentOne reports the Banking sector has declined -0.71 percent, while the Consumer Goods, Oil & Gas and Industrial are also down.

In terms of market activity, the report say in Thursday’s early trade, total volume and value declined by 17 percent and 55 percent compared to this time on Wednesday as investors have exchanged about 34 million units of shares worth about N305 million.

Lender, Sterling Bank Plc is the most actively traded stock with 6 million units of shares accounting for about 18 percent of total volume .

“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the loss in the Banking sector continues,” the InvestmentOne update added.