14 September 2018 : In the end, good always wins over evil, and the equity market has depicted this perfectly. As the week comes to an end, the equity sector finally closed positive after constant negative trading for 9 days. The investors breathe a sigh of relief, as NSEASI jumps by 0.95%, although all the credit goes to the Banking Bulls. All the sectors expect the banking sector was predominantly Bearish. Consequently, the YTD loss has dropped down to 15.47% from 16.27% and the market capitalization went up by N 111 billion.
Starting off on a good note, the banking sector skyrocketed today, fueled by remarkable performances by ( ZEINTHBANK ) which increased by 2.3%, (
GUARANTY ) which shot up by 5.46%, (
UBA ), (
STANBIC ), (
FBNH ) and (
ACCESS ) rose by 3.5%, 3.05%, 1.88% and 2.63% respectively.
The Industrial goods sector was still bearish mainly because of a steep fall in (
CCNN ) by 9.96%. The consumer goods sector was led down by declines in (
NESTLE ) by 2%, (
FLOURMILL ) by 4.04%, (
UNILEVER ) by 8.12%, (
DANGFLOUR ) by 5%, (
GUINNESS ) by 0.11% and (
NASCON ) by 3.75%. But these declines couldn't entirely ruin the day because of advances in (
NB ) by 9.99% and (
HONYFLOUR ) by 9.45%.
Lastly, (
JAPAULOIL ) rose by 4.55% in the oil and gas sector.
Reporting for EasyKobo on Friday , 14 September 2018 in Lagos, Nigeria