Update: Nigerian Stocks Down -0.18% on Losses Across Sectors

October 26, 2018

By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigerian Stocks as at midday Friday is down -0.18 percent on losses across sectors, according to InvestmentOne report.

The report says market movers on the negative side are Diamond Bank Plc and Jaiz Bank Plc;   both are down -9.40 percent and -9.09 percent each, while on the positive side are construction giant, Julius Berger Plc and healthcare firm, Neimeth International Pharmaceuticals Plc; both are up +9.98 percent and +3.70 percent respectively.

In terms of sector performance, InvestmentOne reports the industrial and Banking indices are on the decline with -0.82 percent and -0.05 percent losses apiece, the Consumer Goods is down by -0.02 percent, followed by Oil & Gas sector which is also on the decline.

According to the update, market activity in Friday’s early trade, shows that total volume and value decreased by 64 percent and 52 percent compared to this time on Thursday as investors have exchanged 70 million units of shares worth about N493 million.

Lender, First City Monument Bank is down -0.63 percent to emerge as the most actively traded stock with 30 million units of shares accounting for about 43 percent of total volume.

“Likely close: In the absence of a significant gain DANGCEM, the market may close down today if the losses across most sectors continue,” the InvestmentOne update affirmed.


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