July 26, 2019
By InvestAdvocate
Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Friday is down -0.06 percent on losses across sectors.
InvestmentOne update reports that market movers as at this time are beer producers, International Breweries Plc and cement makers, Cement Company of Northern Nigeria Plc; both have lost -9.42 percent and 9.24 percent apiece; while on the gaining side are insurer, Consolidated Hallmark Insurance Plc and NPF Microfinance Bank Plc; both have gained +10.00 percent and +9.32 percent respectively.
In terms of sector performances, the Industrial and Consumer Goods sectors have lost -1.72 percent and -0.50 percent each, the Oil & Gas has depreciated by -0.45 percent, while the Banking sector is down -0.15 percent.
According to the update, market activity in Friday’s early trade, shows that while total volume declined by 34 percent, total value jumped 250 percent compared to this time on Thursday as investors have exchanged over 50 million units of shares worth about N1.79 billion.
Brewer, International Breweries Plc with a loss of -9.42 percent is the most actively traded stock thus far with about 8 million units of shares accounting for about 16 percent of total volume.
“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the losses across all sectors persist,” the InvestmentOne report said.
