NSE! Equities lose N71.8bn as Dangote Cement, Nigerian Breweries Plunge Stock Market

Dangote Cement, which recorded 1.1 per cent loss to close at N245.20 per share, and Nigerian Breweries, which declined by 1.4 per cent to close at N127.20 per share, pulled the All Share Index down by 48 basis points to close at 41,107.81 points while the year-to-date return declined by 7.5 per cent.

International Breweries Plc. topped the losers’ chart, dropping by 8.3 per cent to close at N47.50 per share. It was trailed by Dangote Sugar with a 5 per cent loss to close at N19.00 per share while Dangote Flour depreciated by 5 per cent to close at N11.45.

Eterna was down by 4.9 per cent to close at N5.96 per share while OANDO also dropped by 4.9 per cent to close at N8.70 per share.

Read also: The ABC of Nigeria-China Currency-Swap Deal

On the flipside, Unity Bank led the gainers’ chart with 9.5 per cent gain to close at N1.15. CCNN followed with 7.6 per cent increase to close at N22.00 per share while Jaiz Bank advanced by 7.1% to close at N0.75 per share. Cutix and UACN both added 5.0 per cent to close at N2.95 and N18.00 per share respectively.

On the sectorial performance, indices of the Banking and the Insurance sectors rose by 0.8 per cent and 0.2 per cent respectively. On the other side, the Consumer Goods index declined by 1.5 per cent while the Oil and Gas index followed by shedding 0.8 per cent. Likewise, the Industries Goods index lost 0.2%.

In all, investors traded a total of 320.4 million shares in 4,482 deals valued at N4.8bn. UBA Bank was the most active stock with 79.91 million shares valued at N935.16 million. Access Bank followed with 57.07 million shares worth N644.38 million.

By Oluwasegun Olakoyenikan…

 

 

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