MIDDAY UPDATE: Nigerian Stocks Dips -0.05% Dragged by Banking Sector Losses

September 21, 2021/InvestmentOne Update

Image Credit: quickenloans.com

ASI as at 12.00pm: -0.05%

Market movers: CHIPLC (-8.77%)SOVRENINS (-8.00%), CUTIX (+4.26%) and VITAFOAM (+2.00%).

Sector Performances: Banking (-0.90%), Consumer Goods (+0.02%), Industrial (+0.10%) and Oil and Gas.

Market activity: In today’s trade, total volume decreased by 33% while total value rose by 39% compared to this time yesterday, as investors have traded about 47million units of shares worth N617million. UBA is the most actively traded stock thus far with about 9million units of shares accounting for about 19% of the total volume.

Likely close: In the absence of significant gains in the prices of DANGCEM and MTN, the market may close southwards today if the loss in the Banking sector persists.

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