Intraday Update: NSEASI Down 0.06% First Trading Day of 2018, on Sell-Offs in Large Cap Banking Stocks

January 2, 2017/InvestmentOne Research

ASI as at 12.00pm: -0.06% 

Market movers: STERLNBANK (-4.63%), GUARANTY (-1.60%), FCMB (+6.76%), DIAMONDBNK (+4.67%) . 

Sector Performances: Banking (-0.31%), Consumer Goods (+0.01%), Industrial, Oil & Gas. 

Market activity: In today’s early trade, total volume and value declined by -59% and -94% respectively compared to this time last Friday. So far, investors have exchanged 113m units of shares worth N363m. TRANSCORP (-0.68%) is the most actively traded stock with c.81m units of shares accounting for c.72% of total volume. 

Likely close: We may see the market close down if the sell-off of large cap Banking stocks continues.