23 August 2018 : The cement giant rewards the Bourse with the best Sallah present. Despite pessimism prevailing in all the sectors today, the Market hulk took advantage of its heavy capitalization and defeated the grizzly bears. The giant rose by an enormous 6.98% lifting the Bourse by 1.57%.
Nevertheless, the other sectors stuck to their love for losing, and closed in red today. Leading the pack is the Banking sector, where losses in the second tier stocks defeated the gain in the first tier stock. The decline in (
UBA ) by 1.84%, (
STANBIC ) by 1.59%, (
ETI ) by 6.34% and (
ACCESS ) by 6.26% royally defeated the uptick in (
GUARANTY ) by 2.3%
Next in line , is the consumer goods sector, where (
FLOURMILL ) declined by 4.65%, (
UNILEVER ) dipped by 0.19%, and (
INTBREW ) fell by 3.41%. The surges in (
DANGFLOUR ) by 6.49% and (
HONYFLOUR ) by 0.68%, reduced losses but couldn't overpower them.
Ofcourse, the oil and gas sector wanted to join the club as well and readily led laggards, fueled by declines in (
OKOMUOIL ) by 4.49%, (
TOTAL ) by 2.95%, (
ETERNA ) by 3.17% and (
JAPAULOIL ) by 7.69%. A surge in (
OANDO ) by 5.26% got lost in the woods.
The major surge in (
DANGCEM ) was enough to lift the industrial goods sectors spirits, the dip in (
WAPCO ) by 5.58% wasn't going to dampen the spirit.
Although (
DANGCEM ), the James Bond of the exchange is driving recoveries, the Bears are still lurking in the woods holding their batons waiting to return as the underlying investor apathy is still predominant.
Reporting for EasyKobo on Thursday ,23 August 2018 in Lagos, Nigeria