MIDDAY UPDATE: Stocks Gain +0.06% Driven by Banking Sector

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March 22, 2023/InvestmentOne Update

ASI as at 12.00pm: +0.06%

Market Mover: ZENITHBANK (+1.39%)

Top Gainers and Losers: FIDELITYBK (+3.27%), LASACO (+2.04%), NCR (-9.69%) and JAPAULGOLD (-6.67%).

Sector Performances: Banking (+0.85%), Consumer Goods, Industrial and Oil and Gas.

Market activity: In today’s trade, total volume increased by 42% while total value declined by 22% respectively, compared to this time yesterday, as investors have traded about 44 million units of shares worth N375 million. 

TRANSCORP (-0.78%)  is the most traded stock by volume with about 24 million units of shares accounting for 55% of the total volume. 

GTCO (+0.41%) is the most traded stock by value with about N93 million worth of shares accounting for 25% of the total value.

Likely close: In the absence of a significant decline in the prices of AIRTELAFRI, MTNN and DANGCEM, the market should close positive if the gains recorded in the Banking sector persists.

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