MIDDAY UPDATE: Nigerian Stocks Gains Significantly +9.55%, Driven by Bellwether Counters

May 22, 2020/InvestmentOne Update

ASI as at 12.00pm: +0.90%. 

Market movers:  BUACEMENT (+9.55%), NEIMETH (+8.86%)SUNUASSUR (-9.09%) and CILEASING (-3.64%).

Sector Performances: Industrial (+6.02%), Oil & Gas (+0.45%), Banking (+0.41%), and Consumer Goods (+0.38%).  

Market activity: In today’s early trade, total volume and value fell by about 23% and 47% respectively compared to this time yesterday as investors have traded 93million units of shares worth about N848million. UBA (+0.75%) is the most actively traded stock thus far with about 26million units of shares accounting for about 28% of the total volume. 

Likely close: In the absence of significant losses in the prices of MTNN and DANGCEM, the market may close up today if the gains in all sectors persist.a

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