09 July 2018 ( Lagos ) : NSEASI started the week with a bang, albeit marginally, gaining 26.30 its and rising by 0.07%. The Industrial Goods sector opened the gates to let the bulls in, leading the club is heavyweight champion (
DANGCEM ) which rose by 0.89% and its friend (
CCNN ) which also surged by 2.92%. These gains weren't ready to be bogged down by the loss in (
WAPCO ) by 2.56%, who is still trying to clear its name from terrorism investigations.
Although the market enjoyed a merry day on a broader perspective, the losses in the banking sector, tried to dampen the spirit. (
UNITYBNK ), one of the best performing stock on the market so far; snapped, losing 9.01%. The dips in (
STANBIC ) of 1.92% and (
UBA ) of 0.48% made the matters worse.
There was not much activity in the Oil and Gas sector, except (
FO ) gained 3.04% and (
OANDO ) on the other hand lost 0.78%.
In the consumer goods sector (
FLOURMILL ), (
HONYFLOUR ) and (
GUINNESS ) added weekend weight by gaining 2.6%, 2.48% AND 0.05% respectively; and (
UNILEVER ) worked out on the weekend and lost 0.1%.
Lastly, (
CILEASING ) rose by 9.78%, closing at a share price of 2.47, making it the highest in its 52 week range. (
FIRSTALUM ) also surged by 7.89%. (
CHAMPION ) that had reached a 52-week low on Thursday, last week, carefully maneuvered its way out of the pothole by gaining 7.54%.
Although we hope for the same optimism tomorrow, but the Equity sector seems to be oscillating like a pendulum for now. Consequently, we expect the tepid sentiment to recur as the week proceeds.
Reporting for EasyKobo on Monday, 9 July 2018 in Lagos, Nigeria