NSE: Week closes in red as Dangote Cement stock drops
The market indices of the Nigerian Stock Exchange (NSE) closed in red on Friday, dropping by 1.40 percent due to Dangote Cement price drop.
Specifically, the market capitalisation dipped N301 billion or 1.40 percent to close at N21.155 trillion from N21.456 trillion posted on Thursday.
Also, the NSE All-Share Index which opened at 41,014.30 lost 574.45 points or 1.40 percent to close at 40,439.85.
A breakdown of the price movement table showed that Livestock Feeds topped the losers’ chart in percentage terms, dropping by 9.78 percent to close at N2.03 percent.
NEM Insurance trailed with 6.69 per cent to close at N2.05, while BUA Cement dipped 7.23 percent to close at N73.30 per share.
Sovereign Trust Bank lost 7.14 percent to close at 26k, while Dangote Cement dropped 3.45 percent to close at N220.
On the other hand, UAC Property Development led the gainers’ table in percentage terms, increasing by 9.58 percent to close at 80k per share.
Linkage Assurance trailed with 9.26 percent to close at 59k, while Unity Bank improved by 9.23 percent to close at 71k per share.
Japaul Gold added 9.23 percent to close at 71k, while Africa Insurance added 9.09 percent to close at 24k per share.
Further analysis of the activity chart indicated that Zenith Bank was investors’ delight, exchanging 56.60 million shares valued at N1.37 billion.
Transcorp followed with an account of 42.71 million shares worth N40.97 million, while FBN Holdings traded 42.07 million shares valued at N302.49 million.
Guaranty Trust Bank sold 42.06 million shares worth N1.28 billion, Access Bank exchanged 40.94 million shares valued at N330.48 million.
In all, investors traded 395.62 million shares worth N5.19 billion in 5,321 deals.
This was against 1.27 billion shares valued at N6.39 billion achieved in 6,573 deals on Thursday.
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