Business
Dangote Cement, 17 others drag Nigerian equity market down by 0.35%
Stockbrokers during a trading session at the NSE
Losses recorded by Dangote Cement and 17 other stocks push equity market down by 0.35 per cent on Wednesday, reversing yesterday’s gain.
The downturn was caused by decline by medium and large capitalized stocks, spurring the All Share Index (ASI) to dip by 109.21 absolute points, representing a decrease of 0.35 per cent to close at 30,704.98 points.
The Market Capitalization went down by N39.90 billion representing a 0.35 per cent drop to close at N11.22 trillion.
Forte Oil gained 9.85 per cent to top 22 other gainers, while Abbey Mortgage Bank shed -7.55 per cent to emerge the highest decliner.
Investors exchanged 201 million shares valued at N4.1 billion in 3,035 deals, with Zenith Bank selling 51.9 million shares worth N1.18 billion to emerge the most active stock in terms of volume and value.
The equity market has lost -19.71 per cent this year.