April 3, 2019
By Peter OBIORA InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange (NSE) all-share index (NSEASI) as at midday Wednesday is down -0.22 percent on losses in the Banking sector and dragged down by the shares of First City Monument Bank.
According to InvestmentOne update, First City Monument Bank with a loss of -2.63 percent is the most actively traded stock with 51 million units of shares accounting for about 34 percent of total volume.
The reports says that market movers are Africa’s global lender, United Bank for Africa Plc and drugmaker, Neimeth International Pharmaceutical Plc both have depreciated -12.67 percent and -9.68 percent apiece, on the gaining side, insurer, Lasaco Assurance Plc and beer producer, Nigerian Breweries Plc both appreciated +7.14 percent and +5.45 percent respectively.
In terms of sector performances, the Nigerian Stock Exchange (NSE) Banking index declined -303 percent; while the Consumer Goods and Oil & Gas sectors gained +2.51 percent and +0.39 percent apiece, the Industrial is also up.
In terms of market activity, Wednesday’s early trade, shows that total volume and total value printed at 148 million and N2.15 billion respectively as at the time of writing this report.
“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the loss in the Banking sector persists,” the report said.
