Dangote Cement, 10 other stocks depress market by 0.60%

Read Time:1 Minute, 33 Second
Dangote Cement, 10 other stocks depress market by 0.60%

Transactions on The Nigerian Stock Exchange (NSE) Thursday returned to negative territory, following selling pressure on Dangote Cement and 10 other stocks.

Consequently, the All-Share Index declined by 234.08 points or 0.60 per cent to 38,697.17 from 38,931.25 on Wednesday. The market capitalisation shed N123 billion or 0.60 per cent to close at N20.246 trillion in contrast with N20.369 trillion recorded on Wednesday.

Accordingly, the month-to-date and year-to-date losses increased to 2.8 per cent and 3.9 per cent, respectively.

The market loss was driven by price depreciation in large and medium capitalised stocks, amongst which were Dangote Cement, Zenith Bank, United Capital, University Press and United Bank for Africa (UBA).

African Alliance Insurance led the losers’ chart in percentage terms, by 8.33 per cent to close at 22k per share.

Mutual Benefits Assurance and Sovereign Trust Insurance followed with a loss of 7.14 per cent each to close at 36k and 26k per share, respectively. University Press lost 4.92 per cent to close at N1.16, while Jaiz Bank dropped 4.41 per cent to close at 65k per share.

On the other hand, Smart Products drove the gainers’ chart in percentage terms, gaining 10 per cent to close at 22k per share.

International Breweries followed with a gain 9.89 per cent to close at N5, while Champion Breweries rose by 9.09 per cent to close at N2.40 per share. Royal Exchange rose by 8.33 per cent to close at 26k, while Livestock Feeds appreciated by 7.65 per cent to close at N1.83 per share.

Investors bought 169.35 million shares valued N2.12 billion exchanged in 3,568 deals as against 368.22 million shares worth N4.46 billion traded in 4,437 deals on Wednesday.

 

0 0

Leave a Reply

Your email address will not be published. Required fields are marked *