Intraday Update: Nigerian Stocks Down -0.08% on Sell-Offs in Industrial Goods Sector

May 16, 2018/InvestmentOne Update

ASI as at 12.00pm: -0.08%.
Market movers: SKYEBANK (-9.41%), DIAMONDBNK (-9.15%), CUTIX (+5.00%), FIRSTALUM (+4.88%).
Sector Performances: Industrial (-0.21%), Banking (+0.03%), Consumer Goods (+0.03%), Oil & Gas.
Market activity: In today’s early trade, total volume and value increased by 161% and 74% respectively compared to this time yesterday, as investors have exchanged 99million units of shares worth N945million. DIAMONDBNK (-9.15%) is the most actively traded stock with 56million units of shares accounting for about 57% of total volume.
Likely close: In the absence of a significant gain in DANGCEM, we may see the market print in red today if the sell-off in the Industrial sector continues.

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