MIDDAY UPDATE: Nigerian Stocks Inch Up +0.18% on Gains in Consumer Goods Counters

July 19, 2019

By InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian Stock Exchange all-share index (NSEASI) as at midday Friday has inched up -0.18 percent on gains recorded thus far in the Consumer Goods sector.

InvestmentOne update reports that market movers are  primary mortgage lender, Abbey Mortgage Bank Plc and top tier lender, Access Bank Plc; both have gained +10.00 percent and +3.33 percent respectively, on the negative side, cablemaker, Cutix Plc and Courteville Business Solutions Plc have both lost  -9.70 percent and -9.09 percent each.

In terms of sector performances, the report says the Consumer Goods has appreciated by +0.44 percent, while the Banking and Industrial has depreciated -0.22 percent and -0.11 percent apiece and Oil & Gas is also down.

InvestmentOne reports that market activity in Friday’s early trade, shows that total volume and value rose by 130 percent and 140 percent respectively compared to this time on Thursday as investors have exchanged over 106 million units of shares worth about N1billion.

Top tier lender, Access Bank Plc with a gain of +4.17 percent is the most actively traded stock thus far with about 33 million units of shares accounting for about 31 percent of total volume.

“Likely close: In the absence of a significant loss in DANGCEM, the market may close up today if the gain in Consumer Goods sector persists,” the report affirmed.

 

 

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