Intraday Update: Nigerian Stocks Gain +0.29% on Buy Interest in Banking Counters

February 11, 2019/InvestmentOne Update

ASI as at 12.00pm: +0.29%. 

Market movers: MCNICHOLS (+9.76%), NNFM (+8.86%), TOTAL (-7.20%), UNIONDAC (-6.90%).

Sector Performances: Banking (+1.58%), Oil & Gas (-1.10%), Consumer Goods (-0.23%) and Industrial.

Market activity: In today’s early trade, total volume and value declined by 60% and 23% respectively compared to this time last Friday as investors have exchanged about 160million units of shares worth about N1.34billion. UBA (+3.27%) is the most actively traded stock with 34million units of shares accounting for about 21% 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 sector continues.

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