MIDDAY UPDATE: Nigerian Stocks Up +0.07% on Gains in Banking, Industrial Counters

September 17, 2019/InvestmentOne Report

ASI as at 12.00pm: +0.07%. 

Market movers: NEM (+9.74%), UNITYBNK (+3.17%), NCR (-9.09%), CUSTODIAN (-4.76%).

Sector Performances: Industrial (+0.57%), Banking (+0.15%) , Consumer Goods and Oil & Gas.

Market activity: In today’s early trade, total volume and value fell by 77% and 84% respectively compared to this time yesterday as investors have exchanged about 23million units of shares worth about N162million. NEIMETH (-2.22%) is the most actively traded stock thus far with about 3million units of shares accounting for about 13% of total volume.  

Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gains in Industrial and Banking sectors persist.

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