July 12, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at 12.00 noon Friday has inched down -0.09 percent on sell-offs in the Banking and Industrial Counters.
InvestmentOne midday update reports that market movers are UACN Property Development Company Plc and Jaiz Bank Plc; both have lost -8.57 percent and -6.82 percent each, while on the positive side, insurer, Consolidated Hallmark Insurance Plc and Courteville Business Solutions Plc have gained +10.00 percent and +8.70 percent respectively.
In terms of sector performances, the report says the Banking and Industrial sectors have declined -0.55 percent and -0.08 percent apiece, while the Consumer Goods is down -0.01 percent, and Oil & Gas is on the negative path.
According to InvestmentOne, market activity in Friday’s early trade, shows that total volume and value declined by 25 percent and 74 percent respectively compared to this time on Thursday as investors have exchanged over 38 million units of shares worth about N317 million.
Top tier lender, Zenith Bank Plc with a loss of -0.52 percent is the most actively traded stock thus far with about 10 million units of shares accounting for about 26 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 and Industrial names persist,” the update added.
