NSEASI Heads North on Increased Investor Interest in Banking Counters

October 3, 2017/InvestmentOne Research

ASI as at 12.00pm: +0.02%

Market movers: CILEASING (+9.82%), LEARNAFRCA (+6.76%), PZ (-6.81%),  UCAP (-4.29%) 

Sector Performances: Industrial (+1.02%), Banking (+0.33%), Consumer Goods (-0.66%),  Oil & Gas (-0.37%) 

Market activity: Activity levels appear relatively flat, compared to this time on Friday, as investors have exchanged c.94m units of shares worth N1.63bn so far today, majority of which has been driven by interest in the Banking sector. FBNH (+1.42%) is the most actively traded stock with c.28m units of shares accounting for c.30% of total volume.

Likely close: Despite the current sell-off on Consumer and Oil & Gas names, the ASI may close positive on the back of increased investor interest in Banking names.