Nigerian Equities Market Heading South on Bearish Sentiment in all Major Counters

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August 30, 2017/InvestmentOne Research

ASI as at 12.00pm: -1.51%

Market movers: ETERNA (-4.74%), MOBIL (-4.99%), CUTIX (+9.95%), MAYBAKER (+9.03%)

Sector Performances: Industrial (-1.72%), Consumer (-0.87%), Banking (-0.72%),  Oil & Gas (-0.42%)

Market activityInvestors have exchanged 96m units of shares worth N1.38bn so far today, a considerable improvement in activity levels compared to this time yesterday when 17m units of shares worth N168m was traded. STERLNBANK (-2.86%) is the most actively traded stock with c.33m units of shares accounting for c.34% of total volume.

Likely close: Given the bearish sentiment towards all major sectors, we expect the equities market to close in the red.

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