Intraday Update: Nigerian Stocks Poised to Close Positive on Investors Interest in Banking Counters

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October 4, 2017/InvestmentOne Research

ASI as at 12.00pm: +0.02% 

Market movers: CILEASING (+9.50%), UCAP (+2.43%), MRS (-4.97%),  DANGSUGAR (-4.95%) 

Sector Performances: Banking (+0.37%), Consumer Goods (-0.14%), Oil & Gas (-0.07%),  Industrial 

Market activity: Investors have exchanged c.39m units of shares worth N700m so far today, less than half the turnover at this time yesterday. FBNH (-0.52%) is the most actively traded stock with 9.7m units accounting for c.25% of total volume.

Likely close: We could see the ASI end positive today, in the absence of a sell-off on DANGCEM, due to investors continued interest in the Banking sector.