28 August 2018: After piggybacking on (
DANGCEM ) for the last couple of sessions, the NSEASI rose independently today by 0.58% , without any assistance from the giant, infact the industrial goods sector had nil contribution today as it closed flat for the day. These gains although were buoyed by remarkable performances by the other sector in the market.
When most of the tier one stocks decide to rise on the same day, it is bound to make the equity feel bullish. The Banking sector, for instance, was determined to reach the stratosphere, courtesy the rises in (
ZENITHBANK ) by 0.91%, (
GUARANTY ) by 2.63%, (
UBA ) by 2.45%, (
FBNH ) by 2.11% and (
ACCESS ) by 2.76%, these upticks weren't weak enough to be bogged down by the 3.5% decline in (
ETI ).
The Oil and gas sector sat in the rocket to shoot towards the moon, as the surge in (
OANDO ) by 1.96% and (
TOTAL ) by 4.74% provided enough fuel for the journey. There was a decline in (
FO ) by 3.04%, but obviously didn't make much of a difference.
Lastly, in the consumer goods sector, although the tier one stock (
NB ) declined by 0.5%, the other stocks all rose to the situation to make the sector reach the peak of the hill along with its friends wiz: (
HONYFLOUR ) rose by 7.24%, (
DANGSUGAR ) grew by 3.33%, (
FLOURMILL ) increased 5.08% to its share price, (
PZ ) rose by 7.28% and (
NASCON ) closed 0.5% higher. Apart from NB, there were some decline in (
DANGFLOUR ) by 3.68% and (
CADBURY ) by 0.5%, but the upticks royally defeated the declines.
The NSEASI refused to be bogged down by pessimism and before reaching the 1998 pre-election YTD low it rebounded and now boasts of a YTD loss of 7.13%.
Reporting for EasyKobo on Tuesday ,28 August 2018 in Lagos, Nigeria