MIDDAY UPDATE: Nigerian Stocks Inch Down -0.10% on Losses Across Sectors

October 18, 2019/InvestmentOne Update

ASI as at 12.00pm: -0.10%.  

Market movers: PZ (-7.32%), UCAN (-2.99%), CUSTODIAN (+9.73%) and TRANSCORP (+1.98%).

Sector Performances: Banking (-0.61%), Oil & Gas (-0.10%), Consumer Goods (-0.09%) and Industrial.

Market activity: In today’s early trade, while total volume rose by 31%, total value declined by 37% compared to this time yesterday as investors have exchanged about 97million units of shares valued at N1.51billion. GUARANTY (-1.31%) is the most actively traded stock thus far with about 45million units of shares accounting for about 46% of the total volume. 

Likely close: In the absence of a significant uptick in the prices of DANGCEM and MTNN, the market may close down today if the losses in the most sectors persist.

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