Market declines as Dangote Cement, others shed weight

Adebayo Obajemu

Nigerian stock market on Tuesday as Dangote Cement, NESTLE and other 42 stocks shed weight.

The All Share Index was down by 0.44% to close at 242,100.70 points from the previous close of 243,161.52 points.

The Market Capitalisation declined by 0.44% to close at N155.377 trillion from the previous close of N156.058 trillion, thereby shedding N681 billion.

An aggregate of 1 billion units of shares were traded in 87,753 deals, valued at N58 billion.

The Market Breadth closed negative as 44 equities gained against 25 equities that declined in their share prices.

Percentage Gainers

GUINNESS led other price decliners as it shed 10.00% of its share price to close at N447.30 from the previous close of N497.00.

MTN Nigeria and Sovereign Trust Insurance among other gainers also grew their share prices by 8.63% and 8.33% respectively.

Percentage Losers

RTBRISCOE, MCNICHOLS and Zichis Agro Allied led other price decliners as they shed 10.00% each of their share prices to close above their previous closes.

Dangote Cement and Consolidate Hallmark among other price decliners also shed their share prices by 9.98% and 9.97% respectively.

Volume Drivers

FCMB traded about 157 million units of its shares in 912 deals, valued at N1.7 billion.

GTCO traded about 68 million units of its shares in 5111 deals, valued at N9.4 billion.

ACCESSCORP traded about 61 million units of its shares in 3407 deals, valued at N1.5 billion.