June 20, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at 12.00 noon on Thursday is up +0.40 percent, driven by gains across most sectors.

InvestmentOne update reports that market movers on the positive side are cement producer, Lafarge Cement Wapco Nigeria Plc and mid-tier lender, Wema Bank Plc; both have gained +9.95 percent and , +9.52 percent apiece, on the flip-side, we have C & I Leasing Plc and insurer, Wapic Insurance Plc; both have lost -10.00 percent and -8.89 percent respectively,

In terms of sector performances, InvestmentOne reports that the Industrial and Banking counters are up +1.90 percent and +0.95 percent each, while the Consumer Goods has also gained +0.66 percent and Oil & Gas losing -0.80 percent.

According to the update, market activity in Tuesday’s early trade, shows that total volume and value rose by 250 percent and160 percent respectively compared to this time on Wednesday as investors have exchanged over 80 million units of shares worth about N1.26 billion.

Top tier lender, Guaranty Trust Bank Plc is the most actively traded stock thus far with about 17 million units of shares accounting for about 21 percent of total volume.

‘Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains across most sectors persist,” the update added.