Market indices dropping further on Dangote cement loss

DANGOTE Cement on Thursday topped the losers’ chart on the Nigerian Stock Exchange (NSE), forcing the market indices to drop for the fourth consecutive day.

The News Agency of Nigeria (NAN) reports that the stock lost N5 to close at N225 per share, followed by Okomu Oil Palm with N2.50 to close at N50 per share.

Guaranty Trust Bank lost 65k to close at N40.05, while Dangote Flour depreciated by 25k to close at N10 per share.

NAN also reports that FBN Holdings shed 15k to close at N10.70 per share.

Consequently, the All-Share Index dropped by 230.49 points or 0.61 per cent to close at 37,733.44, compared to 37,963.93 posted on Wednesday.

Also, the market capitalisation which opened at N13.752 trillion lost N84 billion or 0.61 per cent to close at N13.668 trillion.

Conversely, Lafarge Wapco led the gainers’ table for the day, improving by N2 to close at N42 per share.

Unilever followed with a gain of N1.25 to close at N52.25, while Flour Mills appreciated by N1.15 to close at N32.20 per share.

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Nestle gained N1.10 to close at N1, 501.10, while Nigerian Breweries appreciated by 60k to close at N111 per share.

Champion Breweries was the most active stock during the day, trading 140.36 million shares worth N269.51 million.

Sterling Bank followed with an account of 47.77 million shares valued at N66.42 million, while Zenith International Bank traded 26.23 million shares valued at N651.78 million.

Guaranty Trust Bank sold 22.76 million shares valued at N921.56 million, while FBN Holdings exchanged 19.56 million shares at a cost of N209.19 million.

In all, investors bought and sold 414.93 million shares valued at N4.45 billion transacted in 3,354 deals, an increase of 11.47 per cent.

This was in contrast with a turnover of 372.24 million shares worth N3.18 billion traded in 3,800 deals on Wednesday.