MIDDAY UPDATE: Nigerian Stocks Inch Up +0.10% Driven by Banking Sector Gains

Image Credit; quickenloans.com

February 22, 2021/InvestmentOne Update

ASI as at 12.00pm: +0.10%.

Market movers: VERITASKAP (+10.00%), MULTIVERSE (+9.09%), AFRIPRUD (-9.59%) and LASACO (-9.52%).

Sector Performances: Banking (+1.17%), Consumer Goods (-0.21%), Oil & Gas (-0.05%) and Industrial.

Market activity: In today’s early trade, investors have traded about 78million units of shares worth N1.20billion. UBA (+1.81%) is the most actively traded stock thus far with about 13million units of shares accounting for about 16% 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 gain in the Banking sector persists.

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