MIDDAY UPDATE: Nigerian Stocks Inch Up +0.02% on Gains in Consumer, Banking Counters

August 3, 2020/InvestmentOne Update

ASI as at 12.00pm: +0.02%.

Market movers: NEIMETH (+10.00%)HONYFLOUR (+5.00%)UACN (-10.00%) and UNITYBNK (-9.84%).  

Sector Performances: Banking (+0.26%), Consumer Goods (+0.06%),  Oil & Gas, and Industrial. 

Market activity: In today’s early trade, total volume and value increased by 154% and 93% respectively, compared to last week Wednesday as investors have traded about 61million units of shares worth about N411million. FBNH (+2.00%) is the most actively traded stock thus far with about 8million units of shares accounting for about 13% of the total volume. 

Likely close: In the absence of significant losses in the prices of DANGCEM and MTN, the market may close up today if the gains in Consumer and Banking names persist.

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