ASI: Intraday Update-InvestmentOne

May 16, 2016/InvestmentOne Research

ASI as at 12.00pm: -0.28%

Market movers: UACN (-6.41%), UBA (-5.81%), FBNH (+2.90%), NAHCO (+2.04%)

Sector Performances: Consumer Goods (-1.90%), Industrial (-1.69%), Oil & Gas (-0.24%), Banking (-0.19%),

Market activity: In today’s early trades, investors have exchanged over 129m units of stocks worth c.N1.39b.This represents considerable  decline compared to turnover of  407m units of shares worth N3.51bn this time yesterday. OANDO (-0.13%) currently tops the volume chart with 54m units of shares accounting for c.42% of total volume.

Likely close:  The index looks likely to close negative as investors continue to take profit on recent gains.