27 July 2018 ( Lagos ) : With the H1'18 results rolling in, the investors trade on a tit-for-tat to moderate the downtrend, as they take advantage of the low share prices. This is cooling off the sell pressure in the market, albeit temporarily. Coupled with H1'18 results of oil and gas sector that are exceeding expectations ( special mention to the oil rally ) , the market enjoyed another positive day of trading with the ASI gaining 0.58%.
All the sectors felt bullish today. Starting with the Banking segment, with first and second tier stocks witnessing hikes, the sector boasted of a good day. (
ZENITHBANK ) went up by 0.21%, (
GUARANTY ) increased by 1.79%, (
FBNH ) soared by 3.63%, (
UBA ) snowballed by 1.04%, (
ACCESS ), (
STANBIC ) and (
FCMB ) also went up by 0.5%, 0.31% and 6.6% respectively.
The consumer goods sector also stayed the bears thanks to (
DANGSUGAR )'s upsurge of 10%, (
DANGFLOUR )'s increase of 9.7%, (
VITAFOAM )'s hike of 9.85% and lastly (
INTBREW ) 's increase of 4.23%.
The oil and gas sector faced some mixed sentiments, where (
OANDO ) skyrocketed by 8.25%, (
JAPAULOIL ) went up by 7.69% and (
FO ) gained 3.9%; (
TOTAL ) and (
SEPLAT ), both sector giants, lost 0.1% and 3.85% respectively.
Lastly, in the industrial goods sector, (
CCNN ) gained 10% but (
BERGER ) simultaneously lost 6.43%.
Reporting for EasyKobo on Friday, 27 July 2018 in Lagos, Nigeria