July 10, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Wednesday is down -0.86 percent on sell-offs in newly listed Airtel Africa Plc.
InvestmentOne update reports that market movers are UAC Property Development Company Plc and Airtel Africa Plc which have lost -10.00 percent and -9.99 percent each, while Courteville Business Solutions Plc and Union Bank of Nigeria Plc have gained +9.52 percent and +9.49 percent apiece.
In terms of sector performances, the Banking sector is up +0.79 percent, while the and Consumer Goods has inched up down -0.04 percent, the Oil & Gas and Industrial are also on the negative side.
The report says market activity in Wednesday’s early trade, shows that while total volume declined by 58 percent, total value rose by 15 percent compared to this time on Tuesday as investors have exchanged over 54 million units of shares worth about N1.03 billion.
Top tier lender, Zenith Bank Plc is the most actively traded stock thus far with about 40 million units of shares accounting for about 69 percent of total volume.
“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the sell-off in AIRTELAFRI persists,” the InvestmentOne update affirmed.
