30 July 2018 ( Lagos ): As the H1'18 results continue to roll in, the investors reaction to it, continues to intensify. Depressing results cause the stock to fall like a ball down a rolling hill, while uplifting results causes the stock to skyrocket. The effect on the market depends on its size and capitalization. Owing to beautiful results and rise in the share prices of the respective stocks, the equity sector opened the week by letting the Bulls dominate. NSEASI rose 0.84%, after gaining 309.2 points.
The oil and gas sector of the day, pretty obvious considering good results by most firms owing to the major oil rally. Gains in (
OANDO ) by 9.52%, (
SEPLAT ) by 10%,(
FO ) by 4.38%, (
ETERNA ) by 3.3% and (
JAPAULOIL ) by 7.14% let its investors bask in glory and overweighed a 8.41% dip in (
TOTAL ) owing to its unsatisfactory H1'18 results ( After reporting poor Q1'18 and FY'17 scorecards earlier ); and ( CONNOIL ) by 10%
In the Consumer goods sector, Bulls thrusted their horns up in the air, following upticks in (
FLOURMILL ) by 8.09%, (
NESTLE ) by 0.07%, (
NB ) by 0.48% and (
DANGSUGAR ) by 3.03%. Consequently, the sad declines in (
HONYFLOUR ) by 6.35%, (
DANGFLOUR ) by 1.665 and (
NASCON ) by 2.44% couldn't really do much damage.
Lastly, in the Banking segment, most of the super-heavy and medium-heavy firms closed in green today wiz (
GUARANTY ) surged by 2.27%, (
FBNH ) rose by 0.5%, (
ETI ) went up by 2.5%, (
UBA ) gained 1.03% and (
STANBIC ) increased by 2.57%. Of course the gain stomped all over the dip in (
FCMB ) by 1.96%. In terms of shares traded (
MEDVIEWAIR ) which topped the losers list today recorded the highest volume of shares traded - 100 million, followed by (
STERLNBANK ) - 34.03 million,(
UBA ) - 32.51 million and (
TRANSCORP ) - 29.26 million.
These unpredictable results have brought back some glory in the market and has remarkably reduced the std loss to 3.39%. Lets see how long this glory lasts, before the political fear creeps back in.
Reporting for EasyKobo on Monday, 30 July 2018 in Lagos, Nigeria