05 August 2018 : The Bears and Bulls are playing hide and seek, with the Bulls hiding today and the Bears seeking. All the sectors closed on a negative note today, resulting in the ASI shedding 1.49%. Well, to be fair, the Banking bear and the cement bears are the main culprits but, the other bears also joined the pessimistic bang wagon.
In the Banking sector, all the first and second tier stocks closed under today. Declines were observed in (
ZENITHBANK ) by 2.05%, (
GUARANTY ) by 1.08%, (
UBA ) by 0.62%, (
STANBIC ) by 2.08%, (
FBNH ) by 1.64%, (
ETI ) by 2.25% and (
ACCESS ) by 1.6%.
Industrial goods sector was dismantled by the demolishing of (
DANGCEM ) by 3.04% and (
WAPCO ) by 1.91%.
The Oil and gas sector was set on fire, by one of its own. (
SEPLAT ) massively fell by 7.23% and (
JAPAULOIL ) went down by 3.85%. Advances in (
OANDO ) by 1.92% and (
FO ) by 5.26% were not strong enough to make any difference whatsoever.
Lastly, in the consumer goods sector, (
FLOURMILL ) and (
PZ ) shed 3.64% and 2.59% respectively, while (
NB ) and (
INTBREW ) gained 0.54% and 3.13%.
The equity presently reports a YTD loss of 10.01% which is the highest reported in any pre-election year since 1998.
Reporting for EasyKobo on Wednesday , 05 August 2018 in Lagos, Nigeria