Intraday Update: NSEASI Likely to Close in Red

August 8, 2017/InvestmentOne Research

ASI as at 12.00pm: -0.11%

Market movers: MORISON (-8.85%), AIICO (-3.39%), CILEASING (+9.09%) DANGFLOUR (+8.10%),

Sector Performances Oil & Gas (-0.48%),Banking (-0.39%), Industrial (-0.15%), Consumer (+0.18%)

Market activity: In today’s early trades, over 78m units of stocks worth c.N1.83bn has been traded by investors. This shows improvement in market turnover when compared with a total of c.52m units of shares worth N492m this time yesterday. GUARANTY (-0.12%) is the most actively traded stock with c.9m units of shares accounting for c.12% of total volume.

Likely close: Though the ASI is currently in the red, a reversal in performance of key sector such as Banking and Industrial could see the index turn positive.