MIDDAY UPDATE: Nigerian Stocks Inch Down -0.12% Dragged by Banking, Industrial Counters

April , 2021/InvestmentOne Update

Nigerian Stock Exchange Trading Floor. Image credit: NSE

ASI as at 12.00pm: -0.12%.

Market movers: SOVRENINS (-8.00%) UAC-PROP (-3.61%), LINKASSURE (+9.72%) and JAPAULGOLD (+8.89%).

Sector Performances: Banking (-1.10%),  Industrial (-0.04%), Consumer Goods (+0.02%) and Oil and Gas.

Market activity: In today’s early trade, total volume and value dipped by 7% and 13% compared to this time last Thursday, as investors have traded about 71million units of shares worth  N578million.  UACN(+1.01%) is the most actively traded stock thus far with about 21million units of shares accounting for about 30% 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 the Banking and Industrial sectors persist.

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