August 5, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-Shares of Nigeria’s top tier lender, Zenith Bank Plc and oil marketing, Conoil Plc has dragged the Nigerian Stock Exchange all-share index (NSEASI) lower -0.01% as at midday Monday August 5, 2019.

InvestmentOne update reports that market movers on the negative side are Academy Press Plc operating in the Printing & Publishing Sector and Conoil Plc; both have lost -12.50 percent and -10.75 percent apiece, while Dangote Flour Mills Plc and insurer, Wapic Insurance Plc have gained +10.00 percent and +2.56 percent each .

In terms of sector performances, the report says the Oil & Gas and Banking has depreciated -0.48 percent and -0.32 percent respectively, the Industrial and Consumer Goods are also on the negative territory

InvestmentOne update reports that market activity in Monday’s early trade, shows that while total volume declined by 15 percent, total value increased by 13 percent compared to this time last Friday as investors have exchanged over 23 million units of shares worth about N270 million.

ZENITHBANK with a loss of -0.27 percent is the most actively traded stock thus far with about 6.59 million units of shares accounting for about 29 percent of total volume. 

“Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the losses in Oil & Gas and Banking sectors persist,” the update affirmed.