Dangote Cement, Unilever, others lead stock market N14b loss

Following price losses suffered by most blue-chip companies, especially Dangote Cement and Unilever Nigeria Plc, transactions on the Nigerian Stock Exchange (NSE) was on a downturn yesterday, as market capitalisation dipped by N14 billion.

Yesterday, the All-Share Index which measures the performance of listed equities depreciated by 37.76 points or 0.09 per cent to close at 40,808.48 from 40,846.24 recorded on Wednesday.

Similarly, the market capitalisation of listed equities dropped by N14 billion or 0.09 per cent from N14.754 trillion to N14.740 trillion.

Further breakdown of yesterday’s trading indicated that Dangote Cement emerged the day’s highest price loser, shedding N2.00 kobo to close at N258 per share, while Unilever trailed with a loss of N1.90 kobo to close at N52 per share.

UACN declined by N60.00 kobo to close at N16.90 per share. Forte Oil declined by N55.00 kobo to close at N36.95 per share. Guinness depreciated by N50.00 kobo to close at N103 per share.

On the other hand, Mobil Oil topped the gainers’ chart, adding N8.00 kobo to close at N200 per share. Stanbic IBTC followed with a gain of N1.60 kobo to close at N50.00 per share, while Ecobank Transnational Incorporated gained N85.00 kobo to close at N18.40 per share.

Nigerian Breweries appreciated by N70.00kobo to close at N130, while Oando grew by N60.00 kobo to close at N6.60 per share.
The increase in Oando was occasioned by the lifting of six months technical suspension slammed on the shares yesterday.

The volume of shares traded declined by 44.09 per cent with an exchange of 205.29 million shares valued at N3.12 billion transacted 4,237 deals.

This was against the 367.22 million shares worth N5.33 billion traded in 4,462 deals on Wednesday.

United Bank for Africa emerged toast of investors, exchanging 30.16 million shares valued at N328.41 million.

Zenith International Bank followed with an account of 28.07 million shares worth N727.86 million, while Guaranty Trust Bank traded 21.824million shares valued at N938.24 million.