June 25, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at 12.00 noon Tuesday is down -0.27 percent and drive by losses recorded in the Industrial and Consumer Goods counters.

InvestmentOne reports that market movers are Custodian Investment Plc and Nem Insurance Plc; both has thus far lost -9.02 percent and -8.73 percent apiece, while mid-tier lender, Wema Bank Plc and Consolidated Hallmark Investment Plc have gained +9.38 percent and +9.09 percent each.

In terms of sector performance, InvestmentOne reports that Industrial and Consumer Goods have declined -1.26 percent and -0.19 percent respectively, while the Oil & Gas and Banking sectors have gained +0.48 percent and +0.02 percent respectively.

According to the update, market activity in Tuesday’s early trade, shows that total volume and value declined by 69 percent and 70 percent respectively compared to this time on Monday as investors have exchanged over 126 million units of shares worth about N2.41 billion.

Top tier lender, Guaranty Trust Bank Plc with a loss of -0.16 percent is the most actively traded stock thus far with about 37 million units of shares accounting for about 29 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 Industrial and Consumer sectors persist,” the report affirmed.