Intraday Update: NSEASI Heads South on Sell-Offs in Big Banking Counters

October 18, 2017/InvestmentOne Research

ASI as at 12.00pm: -0.01% 

Market movers: ZENITHBANK (-0.25%), UBA (-0.10%), GLAXOSMITH (+1.10%),

PRESCO (+0.50%) 

Sector Performances: Banking (-0.07), Consumer Goods (+0.05%), Oil & Gas, Industrial  

Market activity: Turnover is higher in terms of volume investors exchanged c.63m units of shares, while value terms it dropped to c.400m. STERLING (-0.99%) is the most actively traded stock with c.25m units of shares accounting for c.40% of total volume. 

Likely close: Following the sell off on Tier one Banking names (Zenith and UBA), we may see the bourse close in red again today.