27 June 2018( Lagos ) : As expected the Nigerian Bourse continues to trend in the negative direction owing to sell pressures on a number of medium and large cap stocks, falling by 0.06%.
With increase in crude oil price, the oil and gas sector was the biggest loser of the day and weighed the bourse down; courtesy (
JAPAULOIL ) that dipped by 7.32%, along with a negative EPS and P/E; this stock has really fallen off the rails. Declines in (
ETERNA ), (
SEPLAT ), (
OANDO ), (
OKOMUOIL ) by 5.04%, 0.15%. 0.75% and 1.8% respectively, made the scenario worse.
The sentiments in the Consumer and Industrial goods sector was mainly bearish as well. Decline in (
CCNN ) by 4.86% overweighed the upsurge in (
WAPCO ) by 95 kobo. Similarly, dips in (
HONYFLOUR ), (
DANGFLOUR ), (
NB ) and (
INTBREW ) by N 0.04, N 0.25, N 0.1, N 0.3 respectively defeated the gain of N 0.05 in (
GUINNESS ).
Banking sector behaved quite bullish today, observing major advances in (
UBN ) by 4.24%; (
UNITYBNK ) by 4.49% and (
STANBIC ) by 2.4% erased declines in (
ZENITHBANK ), (
GUARANTY ) , and (
FIDELITYBK ) of 1.96%, 0.73% and 1.72% respectively.
Lastly, (
PRESTIGE ) and (
AIICO ) both led laggards by falling by 5% and 1.64% respectively
Reporting for EasyKobo on Wednesday, 27 June 2018 in Lagos, Nigeria