Dangote Cement,14 other stocks drag Nigerian equity market down further

The free-fall of stocks of the Nigerian Stock Exchange is refusing to abate as Dangote Cement and 14 other stocks propelled the All Share Index (ASI) on Thursday, after resumption from the Democracy Day celebration.

The ASI was down 0.23 per cent, having shed 70.68 absolute points to close at 30,029.15 points, while Market Capitalization lost N31.13 billion, dipping 0.23 per cent to close at N13.22 trillion.

Glaxosmith gained 9.15 per cent to top 13 other gainers, while C&I Leasing -9.87 per cent to lead the 15 losers’ list.

Marginally appreciation by the banking, insurance, oil and gas and consumer goods could not reverse the market downturn.

Investors traded 242.62 million shares worth N5.96 billion in 3,153 deals with GTBank emerging the most active, having traded 78.30 million shares valued N2.41 billion.