Intraday Update: Nigerian Stocks Flat at 0.00%, Driven By Sell-Offs Across Sectors

May 18, 2018/InvestmentOne Update

ASI as at 12.00pm: 0.00%.
Market movers: JAPAULOIL (-6.25%), NIGERINS (-4.55%), OANDO (+9.27%), SOVRENINS (+8.33%).
Sector Performances: Industrial (+0.56%), Oil & Gas (-0.53%),Consumer Goods (-0.42%), Banking (-0.23%).
Market activity: In today’s early trade, total volume and value increased by 96% and 71% respectively compared to this time yesterday, as investors have exchanged 97million units of shares worth N821million. SOVRENINS (+8.33%) is the most actively traded stock with 21million units of shares accounting for about 23% 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 most sectors continues.

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