14 August 2018: The Nigerian Bourse is determined to break its own abject record, witnesses an additional fall of 0.35%. Consequently, as of today, the NSEASI reports a YTD loss of 7.73%, and as we let that sink in, we will decode the reason of today's decline.
All the sectors closed negative today, except the industrial goods sector which closed flat. Funny are these days, when closing flat seems better than closing negative, as positive closing seems like a far fetched dream now.
Starting with the money lenders, (
GUARANTY ) lost 1.42%,(
UBA ) fell by 0.55%, (
FBNH ) dipped by 1.04%, (
ETI ) closed 0.71% lower and (
ACCESS ) declined by 3.03%. Of course the 0.21% uptick in (
ZENITHBANK ) was comparatively quite menial to make a difference.
The enormous declines in (
OANDO ) by 4.76% and (
ETERNA ) by 9.72%, led laggards in the oil and gas sector.
Lastly, In the consumer goods section, While (
INTBREW ) grew by 5.23%, (
NASCON ) gained 2.76% and (
UNILEVER ) increased 0.76% in its share price, the sector was dragged down by falls in (
DANGSUGAR ) by 0.98%, (
FLOURMILL ) by 8.33%, (
DANGFLOUR ) by 2.44% and (
NB ) by 0.48%.
Reporting for EasyKobo on Tuesday ,14 August 2018 in Lagos, Nigeria