Intraday Update: Nigerian Stocks Inch Up +0.85%, Buoyed by Blue Chips

Image Credit: InvestmentOne

August 8, 2024/InvestmentOne Report

ASI as at 12.00pm: +0.85% 

Top Gainers and Losers: MTNN (+10.00%), OANDO (+9.97%), ABBEYBDS (-8.05%) and TIP (-6.98%). 

Sector Performances: Banking (+0.53%), Consumer Goods (+0.18%), Industrial (-0.02%), Oil & Gas. 

Market activity: In today’s trade, total volume decreased by 10% while total value increased by 11% respectively, when compared to this time yesterday, as investors have traded about 224 million units of shares worth NGN3.83 billion. 

ABBEYBDS (-8.05%) is the most traded stock by volume with about 50 million units of shares, accounting for 22% of the total volume . 

GTCO (+3.33%) is the most traded stock by value worth about NGN1.44 billion, accounting for 37% of the total value .      

Likely close: In the absence of any significant downturn in the share prices of AIRTELAFRI, DANGCEM and MTNN, the market should close on a positive note.

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