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Nigerian equity market extends loss by 0.43%



The Nigerian equity market ended the week on a negative note, shedding 0.43 per cent on Friday, dragged down by Dangote Cement and other stocks.

The All-Share Index which opened at 24,933.41 lost 106.66 points or 0.43 per cent to close at 24,826.75.

The market capitalisation of listed equities dipped N55 billion to close lower at N12.951 trillion from N13.006 trillion reported on Thursday.

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Investors traded 174.68 million shares valued at N2.01 billion in 3,695 deals.

This was in contrast with a turnover of 171.21 million shares worth N2.21 billion exchanged in 3315 deals on Thursday.

A breakdown of the activity chart indicates that Mutual Benefits Insurance was the toast of investors, accounting for 26.59 million shares valued at N5.58 million.

It was trailed by Zenith Bank with 12.66 million shares worth N205.71 million, while Guaranty Trust Bank traded 12.12 million shares valued at N279.81 million.

United Bank for Africa sold 11.27 million shares worth N72.13 million, while FBN Holdings traded 9.87 million shares N52.13 million.

An analysis of the price movement table indicates that Dangote Cement recorded the highest loss to lead the decliners’ chart, dropping by N9 to close at N130, per share.

Okomu Oil trailed with N3 to close at N64, while Guinness was down by 50k to close at N17 per share.

UACN dipped 20k to close at N7, while Dangote Sugar also lost 20k to close at N14.30 per share.

Conversely, BUA Cement led the gainers’ table, gaining N2.60 to close at N44 per share.

Total came second with a gain of N1.40 to close at N97.50, while MTN Nigeria Communications garnered 60k to close at N116.10 per share.

Lafarge Wapco added 20k to close at N11.20, while FBN Holdings also gained 20k to close at N5.30 per share.

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