July 1, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Monday July 1, 2019 is down -0.31 percent and dragged by Banking counters.

InvestmentOne update reports that market movers are Guaranty Trust Bank Plc and First City Monument Bank have lost -5.02 percent and -4.91 percent each, while on the positive side are Academy Press Plc and Chams Plc; both have gained +7.41 percent and +6.90 percent apiece.

In terms of sector performance, the update says the Banking sector is down -1.76 percent; while the Industrial and Consumer Goods sectors have appreciated +7.41 percent and 0.01 percent respectively, the oil & Gas is also on the positive side.

According to the report, market activity in Monday’s early trade, shows that total volume and value declined by 79 percent and 89 percent respectively compared to this time last Friday as investors have exchanged over 23 million units of shares worth about N303 million.

FBN Holdings Plc is the most actively traded stock thus far with about 5 million units of shares accounting for about 22 percent of total volume.

“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the sell-offs in Banking names persist,” the InvestmentOne update added.