Intraday Update: Stocks Head Southward on Decclines in Nigerian Breweries, Dangote Cement Counters

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September 13, 2017/InvestmentOne Research

ASI as at 12.00pm: +0.01%

Market movers: VITAFOAM (+4.91%), NEM (+4.76%),CAVERTON (-4.92%), ETERNA (-4.74%)

Sector Performances: Banking (+1.30%), Consumer Goods (-1.12%), Oil & Gas (-0.53%), Industrial

Market activityInvestors have exchanged c.49m units of shares worth N822m so far today, a c.-40% decline in total value compared to this time yesterday. Activity levels appear skewed towards the Banking sector with ACCESS (+0.41%) the most actively traded stock with c.10m units of shares, accounting for c.20% of total volume, exchanged in early trading today.

Likely close: We may see the ASI close negative for the third straight trading session if bearish sentiment towards NB and DANGCEM remains at close.