01 Aug 2018 ( Lagos ): After enjoying days of positive trading, the Bears finally came in and slayed almost all the sectors of the market. The Bluechip firms that released glowing results yesterday, witnessed a leap in its stock only for a day, and got exploited by the pessimistic bear today. Except the Oil and gas, every other sector dragged the market down, as when the sector's leaders decided to shed some weight, the others just follow.
Staring from the Consumer goods sector, which was the biggest loser of the day. (
NESTLE ) had released some pretty sound results yesterday, and witnessed a share price surge as well; faced some thrashing today and fell by 2.5%. (
NB ) shed 2%, (
DANGSUGAR ) declined by 1.18%, (
INTBREW ) lost a whopping 9.73%, (
PZ ) dipped by a massive 7.28%, obviously the 0.25% minuscule surge couldn't make much of a difference.
Decomposing the other sectors, the Banking sector led laggards as well, with dips in (
GUARANTY ) by 0.37%, (
UBA ) by 2.62%, (
FBNH ) by 1.49%, (
ACCESS ) by 3% and (
UNITYBNK ) by 9.3%; the declines overweighed the upticks in (
ZENITHBANK ) by 0.22%, (
ETI ) by 1.22% and ( JAIZBANK ) by 8.62% ( following the release of exceptional financials )
The oil and gas sector was the sole winner of the day, following upward attacks of the Bulls. (
OANDO ) surged by 1.74%, (
OKOMUOIL ) skyrocketed by 8.43%, ( TOTAL) rose by 3.83% , (
ETERNA ) increased by 1.67% and (
JAPAULOIL ) rose by 3.45%, only (
FO ) declined today, following its unsatisfactory results, but that could not destroy the optimism of the sector.
Lastly, the highest capitalized stock of the market (
DANGCEM ) lost 1.28% but its lower tier friend (
WAPCO ) gained 1.82%.
Reporting for EasyKobo on Wednesday, 1 July 2018 in Lagos, Nigeria