ASI: Intraday Update-InvestmentOne

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May 31, 2017/InvestmentOne

ASI as at 12.00pm: -0.41%

Market movers: CONOIL (-9.74%), OANDO (-4.95%), MANSARD (+8.17%),

CHAMPION (+7.91%),

Sector Performances: Banking (-3.23%),Oil & Gas (-3.00%), Industrial (+0.87%),

Consumer Goods (+0.19%)

Market activity: In today’s early, investors have so far exchanged c.139m units of stocks worth c.N1.11bn. This shows a modest decline when compared with turnover of over 230m units of stocks worth c.N2.7bn this time yesterday.

Likely close: Due to profit-taking on some Banking and Oil & Gas names, we expect the index to close negative.