Two gigantic bulls cement ASI with victory   


20 May 2019 : NSE ASI opens the week with a bang! Courtesy the two biggest giants on NSE: the "newbie" MTNN and the "Old is Gold" DANGCEM.


Another 9.96% skyrocket rise in MTNN supported by a 1.14% rise in DANGCEM helped ASI rise like the Phoenix, even though the rest of the market sentiment was predominantly bearish.


ASI jumped by 1.74%, thus dropping its YTD to -6.54% and increasing its market capitalisation to N 12.95 trillion.


Decoding the rest of the sector, the banking sector was strongly bearish following the declines in ( GUARANTY ) by 0.65%, ( ACCESS ) by 5.43%, ( UBN ) by 2.86% and ( STERLNBANK ) by 8%, this was countered by a 0.26% uprise in ( ZENITHBANK ). The oil and gas sector shared the sentiment of the banking sector owing to the heavy declines in ( FO ) by 9.88% and ( OANDO ) by 2.08%.


The industrial goods sector and consumer goods sector shared mixed sentiments: while ( DANGUSGAR ) and ( FLOURMILL ) fell by 1.47% and 1.27% respectively, ( DANGFLOUR ) and ( GUINNESS ) surged by 1.24%and 2.96% respectively. Similarly, while ( DANGCEM ) soared, ( WAPCO ) fell by 2.86%.


Reporting for EasyKobo on Monday , 20 May 2019 in Lagos, Nigeria







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