19 July 2018 ( Lagos ) : Before mid-day it seemed like a sprinkle of rain after a 5-day draught when NSEASI opened green and continued the trend, but after mid-day some of the top 10 index movers decided to plummet, taking the equity sector along with it. Consequently the NSEASI fell down 0.76%
The Banking and consumer goods sector was the biggest culprit. Heavyweight (
NESTLE ), with an equity performance of 74.06%, moved the index up by 1,513 points and bagged the title of the second biggest index mover over the past year. But looks like today is not its day, with it shedding whopping -5.55%, coupled with the loss in another blue chip company of the sector wiz - (
NB ) of 2.22% really dragged the market down. Advances in (
DANGFLOUR ) of 2.15% and (
DANGSUGAR ) of 6.56% were not able to heal the wound.
Similarly, even in the Banking sector, the giants fraternized with the bears, plunging the entire market down. With (
ZENITHBANK ) losing 4.18%, (
FBNH ) declining by 4.86% and (
UBA ) falling by 2.02%, the upticks in (
GUARANTY ) of 3.97%, (
ETI ) of 0.49%, (
STANBIC ) of 0.21% and (
ACCESS ) of 0.5% could not make a significant difference. (
UNITYBNK ) also suffered a decline of 7.45% whereas (
WEMABANK ) surged by 9.68% making it the top gainer of the day.
Oil and gas sector, on the other hand felt bullish, with rises in (
OANDO ) with 9.47%, and (
ETERNA ) WITH 6.15% outweighed the loss in (
CAPOIL ) of 7.41%.
In terms of volumes of shares traded, (
GUARANTY )
recorded the highest volume of 78.4 million traded shares, followed by ( MEDVIEWAIR ) (50m), ( ZENITHBANK ) (26.51m) and ( TRANSCORP ) (24.39m).
Reporting for EasyKobo on Thursday, 19 July 2018 in Lagos, Nigeria