MIDDAY UPDATE: Stocks Inch Down -0.38% on Sell-Offs

July 11, 2019/InvestmentOne Report

ASI as at 12.00pm: -0.38%. 

Market movers: NESTLE (-4.09%), HONYFLOUR (-2.91%), FIDELITYBK (+2.48%), TRANSCORP (+0.99%).

Sector Performances: Consumer Goods (-1.91%), Banking (-0.55%), Industrial (-0.07%) and Oil & Gas.

Market activity: In today’s early trade, while total volume declined by 5%, total value rose by 16% compared to this time yesterday as investors have exchanged over 51million units of shares worth about N1.20billion. FBNH is the most actively traded stock thus far with about 9.7million units of shares accounting for about 19% of total volume. 

Likely close: In the absence of a significant gain in DANGCEM, the market may close down today if the sell-off across most sectors persists.

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