NSE: Market sustains bearish trend as Guinness, Dangote Sugar, NASCON lead losers

The Nigerian Stock Exchange (NSE) ended the week in the negative territory Friday as profit-taking in some blue-chip stocks dragged the index further down. A negative market breadth was posted with 23 losers recorded as against 13 gainers. The All Share Index (ASI) shed 0.22% to close at 26,526.35, its lowest in seven trading days. The market capitalisation dipped to N12.804 trillion at the end of today’s trade. Year to date, the index is down by 15.60%.

TOP 5 GAINERS

Nigerian Breweries was the leader in the flock of gainers today, appreciating by 9.96% to close at N57.95. Unilever added up 9.49% to end today’s trade at N20.2. Construction giant, Julius Berger went up by 2.63% to N19.5. Stanbic rose to N37.5, notching up 0.81% in the process. Flour Mills completed the top 5, climbing by 1.04% to N19.5.

TOP 5 LOSERS

Guinness was the runt of the litter today, declining by 9.97% to close at N32.05. Dangote Sugar shed 9.97% to end the week at N14.9. NASCON fell to N11.95, losing 9.81%. Cadbury slumped to N9.6, recording 9.86% depreciation. BOC Gas closed at N5.5, going down by 9.84%.

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TOP 5 TRADES

341.616 million shares estimated at N2.388 billion were traded today in 2,949 deals.

Union Diagnostic was the most active stock with 166.108 million of its stocks worth N33.225 million traded in 9 deals. 29.638 million units of FCMB shares priced at N53.994 million exchanged hands in 130 transactions. Zenith Bank had 23.846 million shares valued at N440.385 million traded in 401 deals. GTB traded 22.988 million shares estimated at N680.026 million in 157 transactions. Fidelity Bank traded 14.547 million shares valued at N31.793 million in 91 deals.

NEW DEVELOPMENTS

Lafarge Africa Plc today notified the Exchange and the investing public of the resignation of Mr Michel Puchercos from the company as the Group Managing Director/Chief Executive Officer (GMD/CEO) effective from 17th January 2020.

In his place, the Board announced the appointment of Mr Khaled Abdelaziz El Dokani. El Dokani joined LafargeHolcim in 2004. Before taking over this position, he was country CEO of Iraq (2018-2019), Qatar (2016-2018), Saudi Arabia (2013–2016), Vice-President for Business Development and Strategy North America (2010-2013), and CFO in Lafarge Algeria (2004 – 2010). He holds a Bachelor of Commerce degree from Alexandria University, Egypt.

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