August 2, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at 12.00 noon Friday has appreciated +0.08 percent driven by gains recorded thus far in the Oil & Gas sector.

InvestmentOne update reports that market movers are Forte Oil Plc and Japaul Oil & Maritime Plc; both have appreciated +7.76 percent and +5.00 percent each, while on the negative side are, Honeywell Flour Mills Plc and lender, Sterling Bank Plc; both have depreciated -10.00 percent and -6.52 percent apiece.

In terms of sector performances, InvestmentOne reports the Oil & Gas has gained +0.47, while the Banking have lost -0.81 percent, also the Industrial and Consumer Goods are on the down side.

According to the update, market activity in Friday’s early trade, shows that while total volume rose by 92 percent, total value declined by 32 percent compared to this time on Friday as investors have exchanged over 27 million units of shares worth about N239 million.

First City Monument Bank with a loss of -2.44 percent is the most actively traded stock thus far with about 7.7 million units of shares accounting for about 29 percent of total volume. 

“Likely close: In the absence of a significant loss in DANGCEM or MTNN, the market may close up today if the gains in Oil & Gas sector persist,” the update said.