Monstrous declines in INTBREW and PZ render marginal decline in ASI   

19 September 2018 : Despite a predominantly bullish sentiment today, where 4 out of 5 indices closed positive, the NSEASI shed 0.02%. Well the reason of this marginal decline is the Consumer goods sector, where the Bear dominated and spread their negative energy all over. Due to the remarkable performances by the other sectors,  there wasn't any significant drop in the YTD or market cap, hence the current YTD loss is still 15.34%, and the market capitalization marginally dropped by N 2 million from N 11. 821 to N 11.819. 


In the consumer goods sector, its was the massive decline in ( INTBREW ) by 6.25% and ( PZ ) by 7.41% that dragged the sector down. Although the sector saw some advances as well: ( HONYFLOUR ) by 3.57%, ( DANGSUGAR ) by 0.36%, ( FLOURMILL ) by 0.78% and ( NB ) by 0.11%, but clearly the declines overpowered the advances.


In the Banking sector, while ( GUARANTY ) saw an incline of 0.89%, ( STANBIC ) gained 0.96%, ( UBN ) soared by 6.42%; ( FBNH ) and ( UBA ) observed a decline of 2.86% and 2.6% respectively.


The oil and gas sector, was pre-dominantly bullish with huge advances in ( OANDO ) by 4%, ( JAPAULOIL ) by 4.35% and ( FO ) by 10%.


The industrial goods sector soared with a whopping 9.73% rise in ( CCNN ).


Reporting for EasyKobo on Wednesday , 19 September 2018 in Lagos, Nigeria



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