Intraday Update: Nigerian Stocks up +1.59%, Driven by Gains Across Sectors

February 12, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at 12.00 noon is up +1.59 percent and driven by gains across all sectors.

InvestmentOne reports that market movers are Dangote Flour Mills Plc and Champion Breweries Plc; both have appreciated +10.00 percent and +9.88 percent each, while insurer, Sovereign Insurance Plc and cement producer, Cement Company of Northern Nigeria Plc are down -4.76 percent and -0.45 percent respectively.

In terms of sector performances, the Consumer Goods and Oil & Gas sectors have gained +4.01 percent and +1.39 percent apiece, while the Banking and Industrial sectors are +1.10 percent and +0.83 percent each.

According to InvestmentOne, market activity in Tuesday’s early trade,  shows that while total volume declined by 3 percent, total value increased by 132 percent compared to this time on Monday as investors have exchanged about 155 million units of shares worth about N3.11 billion.

Top tier lender, Access Bank Plc with a gain of +2.86 percent is the most actively traded stock with 30 million units of shares accounting for about 19 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 across all sectors continues,” the InvestmentOne update affirmed.

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