MIDDAY UPDATE: Nigerian Stocks Appreciates +0.22% Driven by Consumer, Oil & Gas Counters

April 16, 2020/InvestmentOne Update

ASI as at 12.00pm: +0.22%.

Market movers:  NESTLE (+10.00%), INTBREW (+10.00%), ZENITHBANK (-9.75%) and UBA (-7.69%).

Sector Performances:  Consumer Goods (+5.78%), Oil & Gas (+0.33%), Banking (-6.74%) and Industrial (-2.04%).

Market activity: In today’s early trade, total volume and value rose by 26% and 118% respectively compared to this time yesterday as investors have traded 153million units of shares worth about N2.27billion. ZENITHBANK (-9.75%) is the most actively traded stock thus far with about 57million units of shares accounting for about 37% of the total volume.

Likely close: In the absence of significant losses in the prices of MTNN and DANGCEM, the market may close up today if the gains in Consumer Goods and Oil & Gas sectors persist

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