MIDDAY UPDATE: Nigerian Stocks Inch Down -0.02% Dragged by Banking, Oil & Gas Counters

March 11, 2021/InvestmentOne Update

Image Credit; quickenloans.com

ASI as at 12.00pm: -0.02%.

Market movers: JAIZBANK (-8.82%), AFRINSURE (-8.33%), SMURFIT (+10.00%) and CHAMPION (+10.00%).

Sector Performances: Banking (-0.16%), Oil & Gas (-0.03%), Consumer Goods (+0.05%) and Industrial (+0.01%).

Market activity: In today’s early trade, investors have traded about 74million units of shares worth N678million. AIICO (+2.56%) is the most actively traded stock thus far with about 15million units of shares accounting for about 20% of the total volume.

Likely close: In the absence of significant gains in the prices of DANGCEM and MTN, the market may close down today if the losses in Banking and Oil and Gas sectors persist.

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