17 September 2018: The happiness of the positive close of the equity on Friday was as short lived as a rainbow. The equity opened the week on a bearish sentiment with the the Bluechip companies all marshaling up to take the plunge together, resulting in the ASI dropping by 0.39% making its YTD loss 15.8% .
From the Banking sector, giants like (
GUARANTY ) by 2.3%, (
UBA ) by 2.7% and (
STANBIC ) by 1.78% took the fall. Whereas in the consumer goods sector, (
NESTLE ) took the biggest hit of 1.46%, closely followed by (
GUINNESS ) which declined by 2.16% and (
NB ) who fell by 0.54%. Lastly, (
MOBIL ) in the oil and gas sector led laggards in the sector.
Closing on a positive note, (
ZENITHBANK ), (
FBNH ) and (
ACCESS ) advanced by 1%, 0.61% and 3.85% respectively. While the consumer goods sector was bought up by gains in (
FLOURMILL ) by 0.79% and (
HONYFLOUR ) by 6.47%. The advances in the oil and gas sector overpowered the decline fueled by raises in (
FO ) by 8.57% and (
JAPAULOIL ) by 4.35%.
Reporting for EasyKobo on Monday , 17 September 2018 in Lagos, Nigeria