27 August 2018 : (
DANGCEM ) once again proves that size matters above all, and that he is and will remain the giant whose movement can control the direction of the ASI. Dangote cement on its heroic spree last week, gets shot by pessimism at week open, dragging the equity down by 0.32%. Funnily enough, all the sectors , (expect the industrial goods sector) closed positive today fueled by massive surges in all their tier one stocks, but we guess (
DANGCEM ) likes to call the shots.
Staring with the Banking sector, the bullish sentiment was contributed by upticks in (
ZENITHBANK ) by 0.23%, (
GUARANTY ) by 1.33%, (
UBA ) by 1.88% and (
ACCESS ) by 0.56%, these overweighed the decline in (
FBNH ) BY 1.55%.
Next in the winners pack is the consumer good sector, which enjoyed skyrocketing gains in (
FLOURMILL ) by 9.77%, (
NB ) by 0.5%, (
HONYFLOUR ) by 3.4% and (
DANGSUGAR ) by 2.04%. These upticks were no where ready to be bowed down by declines in (
UNILEVER ) by 2.86% and (
DANGFLOUR ) by 0.61%.
In the oil and gas sector when you have the two hulks rising, nothing can bring the sector down. (
OANDO ) rose vey 2% and (
TOTAL ) gained 1.91%.
Lastly, apart from he fall in (
DANGCEM ), the sector did witness a rise in (
WAPCO ) by 2.86%, but as we can see it couldn't really make much of a difference.
Reporting for EasyKobo on Monday ,27 August 2018 in Lagos, Nigeria