Dangote Cement sheds weight, plummets NGXASI by 1.97%

Adebayo Obajemu

The Nigerian bourse on Monday further plummeted as Dangote Cement and other 30 stocks, pushed the All Share Index down by 1.97% through weight shedding to close at 50,756.74 points from 51,778.08 points recorded last Friday.

The market capitalisation closed at N27.363 trillion, shedding 551 billion from N27.914 trillion posted in the last session.

An aggregate of 345 million units of stocks were traded in 5,075 deals, valued at N3 billion.

Market Breadth

The market breadth ended on a negative note as just 7 stocks gained against 31 that fell in their share prices.

Percentage Gainers

Jaiz Bank led the gainers table with 5.32% to close at N0.99 from the previous figure of N0.94.

Regency Alliance and JAPUALGOLD among other gainers also grew their share prices by 3.70% and 3.33% respectively.

Percentage Losers

Dangote Cement and Union Bank of Nigeria were front losers as they shed 10% of their share prices to close at N249.30 and N5.40 respectively.

Livestock Feeds, International Breweries and Flourmills of Nigeria among other stocks shed their share prices by 9.77%, 9.60%, and 8.57% respectively.

Volume Drivers

UBA traded about 29 million units of its shares in 221 deals, valued at about N221 million.

ACCESSCORP traded about 22 million units of its shares in 163 deals, valued at about N206 million.

FBNH traded about 12 million units of its shares in 261 deals, valued at about N114 million.