MIDDAY UPDATE: Nigerian Stocks Appreciates +1.60% Driven by MTN, Banking, Consumer Goods Counters

January 13, 2020/InvestmentOne Update

ASI as at 12.00pm: +1.60%. 

Market movers: MTNN (+10.00%), LASACO (+7.41%), TRANSCOHOT (-9.18%) and JAPAULOIL (-4.76%).  

Sector Performances: Banking (+0.50%) and Consumer Goods (+0.13%), Industrial (-0.14%) and Oil & Gas (-0.03%).

Market activity: In today’s early trade, while total volume declined by 21%, total value rose by 170% compared to this time on Friday as investors have exchanged about 90million units of shares valued at N4.59billion. ZENITHBANK is the most actively traded stock thus far with about 12million units of shares accounting for about 13% of the total volume. 

Likely close: In the absence of a significant loss in the price of DANGCEM, the market may close up today if the gains recorded in MTNN, Banking and Consumer Goods sectors persist.

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