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Stock market down by 0.54% on large cap stocks losses

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IMAGE: Dangote Cement plc »


Trading resumed this week at the Nigerian stock market on a negative note evidenced in the 0.54 percent decline recorded by the Nigerian Stock Exchange (NSE) All Share Index (ASI).

The recorded decline yesterday was largely driven by share price losses of largely capitalised stocks led by Nigerian Breweries plc, Dangote Cement plc, Ashaka Cement plc, Oando plc, among other equities.

The Nigerian Stock Exchange –All Share Index depreciated by 224.71 points to close at 41,339.48 points from 41,564.19 points recorded the preceding trading day (Friday). The market capitalisation decreased by N7bn to N13.65trn from N13.72trn in the preceding trading day.

A total number of 26 stocks gained on the bourse today while 26 stocks declined leaving 60 stocks unchanged.

On the losers’ table, Nigerian Breweries plc led the pack after its share price declined from N175.54 to N172.51, down by N3.03; followed by Dangote Cement plc which dropped from N229.97 to N228, losing N1.97.

Other top losers on the table include Mobil Oil Nigeria plc which declined from N175 to N174, losing N1; followed by Ashaka Cement plc which also dipped from N34 to N33.14, losing N0.86. The share price of Oando plc declined from N26.45 to N26, after shedding N0.45.

On the gainers table, Total Nigeria plc led the pack after its share price rallied from N181.02 to N182, adding N0.98; followed by Forte Oil plc which appreciated from N231.2 to N232.11, adding N0.91. Conoil plc rallied from N68.45 to N69, adding N0.55; MRS Oil Nigeria plc recorded share price increase from N58.49 to N58.9, adding N0.41; while the share price of Redstar Express plc gained N0.2, from N4.6 to N4.8.

Transcorp plc, Mansard Insurance plc, FBN Holdings plc, GTBank plc, and Access Bank plc were the most actively traded stocks on the Nigerian bourse yesterday in terms of volume.

Volume of equities traded decreased by 10.44 percent from 174.949m to 156.693m, while the total value of stocks traded increased by 2.58 percent from N1.454bn to N1.492bn in 3,958 deals.

Article Credit: Businessdayonline

Updated 5 Years ago

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Tags:     Nigerian Stock Exchange     Nigerian Breweries plc     Dangote Cement plc     Mobil Oil Nigeria plc     Ashaka Cement plc     Transcorp plc     Mansard Insurance plc     FBN Holdings plc     GTBank plc     and Access Bank plc