MIDDAY UPDATE: Nigerian Stocks Head Southwards Dragged by Consumer, Oil & Gas Counters

Image Credit: quickenloans.com

April 6, 2022/InvestmentOne Update

ASI as at 12.00pm: -0.03%

Market movers: NGXGROUP (-4.18%), JAIZBANK (-2.99%), WAPIC (+10.00%) and REGALINS (+10.00%).

Sector Performances: Oil and Gas (-0.29%), Consumer Goods (-0.06%), Banking (+0.05%) and Industrial (+0.01%).

Market activity: In today’s trade, total volume and value decreased by 36% and 29% respectively, compared to this time yesterday, as investors have traded about 61million units of shares worth N601million. FIDELITYBK is the most actively traded stock thus far with about 17million units of shares accounting for about 18% of the total volume.

Likely close: In the absence of significant gains in the prices of DANGCEM and MTNN, the market should close southwards today if the losses recorded in the Oil and Gas and Consumer Goods sectors persist.  

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