Intraday Update: Nigerian Equities Market Heads North to Sustain End of Last Week’s Bullish Trend

October 9, 2017/InvestmentOne Research

ASI as at 12.00pm: +0.10%

Market movers: MAYBAKER (+9.92%), AFRIPRUD (+6.38%), DIAMONDBNK (-4.55%),  NAHCO (-4.40%) 

Sector Performances: Oil & Gas (+0.57%), Consumer Goods (+0.28%), Banking (+0.08%), Industrial (+0.07%) 

Market activity: Compared to this time last Friday, turnover is weaker with total volume and value down -49% and -28% respectively as investors have exchanged c.71m units of shares worth N701m so far today. ZENITHBANK (+0.72%) is the most actively traded stock with 14m units of shares accounting for c.20% of total volume.

Likely close: The market looks likely to close in the green today, continuing the bullish trend seen at the end of last week.