NSEASI May Close Positive on Sell-Offs in Tier One Banking Counters

October 19, 2017/InvestmentOne Research

ASI as at 12.00pm: -0.07%

Market movers: FIDSON (-4.97%), CILEASING (-4.74%), GLAXOSMITH (+3.67%), CUSTODYINS (+3.00%) 

Sector Performances: Banking (-0.26%), Oil & Gas (-0.45%), Consumer Goods, Industrial  

Market activity: Turnover is lower in terms of volume investors exchanged c.52m units of shares, while value terms rose to c.N718m. UBA (-0.66%) is the most actively traded stock with c.21m units of shares accounting for c.40% of total volume.

Likely close: While the market is currently negative due to the continued sell in some Tier 1 Banking names, the ASI may end positive today on the back of the strong Q3 2017 results from DANGCEM, which may boost interest in the stock.