Intraday Update: NSEASI Likely to Close Positive on Buying Interest in Banking Names

August 11, 2017/InvestmentOne Research

ASI as at 12.00pm: +0.23%

Market movers: ZENITHBANK (+3.45%), UBA (+3.05%), CILEASING (-8.47%), DANGFLOUR (-4.97%)

Sector Performances: Banking (+1.36%), Consumer (-0.06%), Oil & Gas


Market activity: Activity level appears soft  in today’s early trades  compared to yesterday. So far, investors have traded 83m units of shares worth N767.82mn as against 108m units of shares worth N2.11bn this time yesterday. JAIZBANK  is the most actively traded stock with c.19m units of shares accounting for c.23% of total volume.

Likely close: The index looks likely to close positive with support from buying interest in Banking names.