MIDDAY UPDATE: Nigerian Stocks Appreciate +1.18% on Gains in MTNN, Banking Counters

September 6, 2019/InvestmentOne Update

ASI as at 12.00pm: +1.18%. 

Market movers: UACN (+10.00%), LASACO (+7.41%), CUTIX (-9.03%), WEMABANK (-1.67%).

Sector Performances: Banking (+0.55%), Industrial (-0.02%), Oil & Gas,  and Consumer Goods.

Market activity: In today’s early trade, total volume and value jumped 256% and 713% respectively compared to this time yesterday as investors have exchanged about 207million units of shares worth about N5.49billion. GUARANTY is the most actively traded stock thus far with about 127million units of shares accounting for about 61% of total volume.  

Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains in Banking sector and MTNN(+5.03%) persist.

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