MIDAY UPDATE: Nigerian Stocks Dips -0.04% on Losses in Banking, Consumer Counters

September 14, 2021/InvestmentOne Update

ASI as at 12.00pm: -0.04%

Image Credit: quickenloans.com

Market movers: REGALINS (-8.33%), SOVRENINS (-7.41%), UPDC (+9.93%) and ACADEMY (+8.33%),

Sector Performances: Banking (-0.28%), Consumer Goods (-0.17%), Industrial (+0.13%) and Oil and Gas.

Market activity: In today’s trade, while total volume increased by 53%, total value decreased by about 68% compared to this time yesterday, as investors have traded about 75million units of shares worth N490million. MBENEFIT (-6.67%) is the most actively traded stock thus far with about 15million units of shares accounting for about 20% of the total volume.

Likely close: In the absence of significant gains in the prices of DANGCEM and MTN, the market may close on a negative note today if the losses in the Banking and Consumer Goods sectors persist.

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