MIDDAY UPDATE: Nigerian Stocks Down -0.20% on Losses in Banking, Industrial Sectors

June 30, 2020/InvestmentOne Update

ASI as at 12.00pm: -0.20%. 

Market movers:  REDSTAREX (-9.91%)NAHCO (-8.57%)OKOMUOIL (+9.94%) and ABCTRANS (+9.80%).

Sector Performances: Banking (-0.75%), Industrial (-0.59%), Consumer Goods (+0.02%) and Oil & Gas.

Market activity: In today’s early trade, total volume and value increased by 38% and 17% respectively, compared to this time yesterday as investors have traded about 87million units of shares worth about N779million. JAPAULOIL (-4.35%) is the most actively traded stock thus far with about 14million units of shares accounting for about 14% of the total volume.

Likely close: In the absence of significant gains in the prices of MTNN and DANGCEM, the market may close down today if the losses in Banking and Industrial sectors persist.

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