Nigeria Update: Flourmills, Dangote Cement lead stock market’s N18b loss
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Equity transactions on the trading floor of the Nigerian Stock Exchange (NSE), yesterday, reopened on a downward note, following price losses suffered by most blue chip stocks, especially Flourmills and Dangote Cement, as market capitalisation dipped by N18 billion.
Specifically, the market capitalisation lost N18 billion or 0.12 per cent to close at N14.724 trillion in contrast to N14.742 trillion posted on Friday.
Also, the All-Share Index, which opened at 40,814.89 points, shed 50.96 points or 0.12 per cent to close at 40,763.93 due to the price depreciations.
Further breakdown of yesterday’s transactions showed that Flourmills recorded the highest loss, shedding N1.65 to close at N33.55 per share.
Dangote Cement followed with a loss of N1.50 to close at N248, while Guaranty Trust Bank was down by 95 kobo to close at N43.90 per share.
Lafarge Africa lost 85 kobo to close at N43.60 per share, while Dangote Sugar Refinery also joined the losers’ list with 85 kobo to close at N20.55 per share.
On the other hand, Nigerian Breweries led the gainers’ table, adding N3.60 to close at N129.70 per share.
Forte Oil followed with a gain of N1.85 kobo to close at N39.50 per share, while GlaxosmithKline added N1.70 to close at N32 per share.
Stanbic IBTC appreciated by 100 kobo to close at N50 per share, even as FBN Holdings gained 60 kobo to close at N13.45 per share.
On the activity chart, the volume of shares traded appreciated by 118.84 per cent as investors bought and sold 530.22 million shares valued at N7.77 billion, transacted in 4,567 deals.
This volume of shares traded was, however, higher than 242.29 million shares worth N3.03 billion exchanged in 5,746 deals last Friday.
Law Union and Rock Insurance recorded the highest volume of activities for the day, trading 220.75 million shares valued at N253.81 million.
Zenith International Bank followed with a volume of 76.67 million shares worth N2.07 billion, while FBN Holdings sold 24.27 million shares valued at N318.74 million.
Nigerian Breweries traded 21.02 million shares worth N2.73 billion, while Transcorp exchanged 17.66 million shares valued at N30.74 million.
