06 August 2018 : Once upon a time the ASI decided to go bungee jumping, but there was one tiny problem, the Bears cut off the rope, and the ASI nosedived into the ground. Losing N 110 billion of equity cap, the investors don't need to watch a horror movie, as their investments are displaying enough horror. Despite the Industrial goos sector closing positive today with slight upticks in ( DANGCEM
) by 0.45% and ( WAPCO
) by 0.43% the ASI fell 0.88% today, resulting in a YTD loss of 10.81%. Maybe because apart from the industrial goods sector where the Bulls still had some hold, the Bears acquired the other sectors and completely demolished it.
It's hard to say which sector was the biggest loser, as the bellwether stock of every sector fell like there is no tomorrow.
In the Banking sector, all the first and second tier stocks witnessed massive declines: ( ZENITHBANK
) and ( GUARANTY
) fell by 2.1% and 4.64% respectively, while ( UBA
), ( STANBIC
), ( ETI
), and ( ACCESS
) shed 1.25%, 4.26%, 0.26% and 1.63% respectively.
In case of the Consumer goods sector, the declines in ( UNILEVER
) by 6.4%, ( NB
) by 0.53%, ( GUINNESS
) by 2.22% and ( INTBREW
) by 3.03% left little scope for a turn around. Dips in ( HONYFLOUR
) by 1.89%, ( DANGSUGAR
) by 1.26% just made things a lot more worse. Although ( PZ
) gained 2.66% and ( FLOURMILL
) gained 1.42%, the sector still closed massively under.
Last but definitely not the least, in the oil and gas sector, ( MOBIL
) fell by 0.56%, ( ETERNA. ) massively went down by 9.42% and ( JAPAULOIL
) declined by 4%, these declines overpowered the upticks in ( OANDO
) by 0.94% and ( FO
) by 5%.
Reporting for EasyKobo on Thursday , 06 August 2018 in Lagos, Nigeria
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