August 31, 2022/InvestmentOne Update

ASI as at 12.00pm: +0.31%

Market movers: GUINNESS (+9.88%), CAVERTON (+9.62%), SOVRENINS (-7.14%) and UPDCREIT (-7.04%).

Sector Performances: Consumer Goods (+1.88%), Banking (+0.48%), Oil and Gas (-0.77%) and Industrial.

Market activity: In today’s trade, total volume and value increased by 555% and 37% respectively compared to this time yesterday, as investors have traded about 249 million units of shares worth N2.13 billion. STERLNBANK (-2.63%) is the most actively traded stock thus far with about 161 million units of shares accounting for about 65% of the total volume.

Likely close: In the absence of significant losses in the prices of DANGCEM, MTNN and AIRTELAFRI, the market should close positively if the gains printed in the consumer goods and banking sectors persist.