Intraday Update: Nigerian Stocks Up +0.02% on Buy Interest in Banking Counters

October 8, 2018

By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Monday is up +0.02 percent, driven by buy interest in Banking counters.

InvestmentOne reports that market movers are Jaiz Bank Plc and Healthcare firm, Neimeth International Pharmaceuticals Plc ; both are up by +9.80 percent and +8.47 percent each, while insurer, Hallmark Insurance Plc and Diamond Bank Plc; are down -3.45 percent and -1.63 percent apiece.

In terms of sector performance, InvestmentOne reports that the Banking  index is up +0.21 percent; while the Oil & Ga, Industrial and Consumer Goods indices are down -0.13 percent.

The update says that market activity in Monday’s early trade, shows that total volume and value declined by 54 percent and 9 percent respectively; compared to this time last Friday as investors have exchanged 43 million units of shares worth about N858 million.

Tier one lender, Guaranty Trust Bank Plc with a gain of +0.27 percent is the most actively traded stock with 21 million units of shares accounting for about 49 percent of total volume.

“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the buy interest in Banking names continues,” the report affirmed.



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