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NSE LIVE! Dangote Cement, Nigerian Breweries drag equities down

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NSE LIVE! Stock Exchange suffers glitch as equities lose N32b

While the underlying bargain-hunting and resultant positive sentiments remained widespread, losses recorded by the two most capitalised companies at the Nigerian stock market- Dangote Cement and Nigerian Breweries, weighed down the overall market position, leading to a loss of N47 billion.

With nearly two advancers to every decliner, the losses by the highly capitalised stocks depressed the aggregate market value of all quoted companies on the Nigerian Stock Exchange (NSE) from N8.906 trillion to N8.859 trillion. The All Share Index (ASI)- a value-based index that tracks prices of all quoted companies on the NSE, declined to 25,755.01 points as against its opening index of 25,890.94 points.

There were 24 gainers to 13 losers, underlying the widespread positive sentiments across the small and mid-cap stocks. Dangote Cement, Nigeria’s most capitalised quoted company, led the losers with a loss of N4.88 to close at N163.12. Nigerian Breweries, the second most capitalised stock at the stock market, followed with a loss of N1.96 to close at N96.04. Ecobank Transnational Incorporated dropped by 16 kobo to close at N18.10. NASCON Allied Industries declined by 15 kobo to close at N7.02 while Cement Company of Northern Nigeria lost 12 kobo to close at N8.88 per share.

Read also: NSE LIVE! Equities sustain modest rally with N24b gain

However, the general pricing trend remained positive as investors continued to hunt for dividend-paying and undervalued stocks. Lafarge Africa led the gainers with a gain of N2.50 to close at N85. PZ Cussons Nigeria followed with a gain of N1.10 to close at N25.20. CAP rose by 94 kobo to close at N38.50. Guinness Nigeria added 51 kobo to close at N114.01. Union Bank of Nigeria chalked up 38 kobo to close at N5.98. Oando rose by 37 kobo to close at N4.03. Stanbic IBTC Holdings gathered 30 kobo to close at N14.70. United Bank for Africa added 26 kobo to close at N3.46 while Guaranty Trust Bank rose by 21 kobo to close at N16.20.

Turnover remained around average with the exchange of 233.42 million shares valued at N1.42 billion in 3,232 deals. FCMB Holdings was the most active stock with a turnover of 34.93 million shares valued at N26.49 million in 92 deals. United Bank for Africa followed with 26.48 million shares worth N90.81 million in 342 deals. Fidelity Bank placed third with a turnover of 21.31 million shares valued at N24.5 million in 86 deals.

 

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