Dangote Cement sheds weight, drives NGXASI down by 1.47%

The Nigerian stock market on Wednesday declined further as Dangote Cement shed 10.00% of it share value alongside other 38 stocks to close the day at N387.90 from N431.00, thereby driving the All Share Index down by 1.47% to close at 102,095.95 points from 103,622.09 points on Tuesday.

The market capitalisation closed at N62.257 trillion, shedding 932 billion from N63.189 trillion recorded in the last session.

An aggregate of 435.5 million units of stocks were traded in 12,098 deals, valued at N9.4 billion.

Market Breadth

The market breadth closed negative as 29 stocks gained against 39 that declined in their share prices.

Percentage Gainers

Dangote Sugar, Sunu Assurance and NASCON with 10.00% growth each led the gainers table to close at N36.85, N6.71 and N38.50 respectively.

SKY Aviation and AUSTINLAZ among other gainers also grew their share prices by 9.95% and 9.94% respectively.

Percentage Losers

Dangote Cement and Universal Insurance led other losers as they shed 10.00% each of their share prices to close at N387.90 and N0.63 respectively.

JOHNHOLT, Transcorp Power and OMATEK among other stocks shed their share prices by 9.99%, 9.97%, and 9.89% respectively.

Volume Drivers

Universal Insurance traded about 70 million units of its shares in 250 deals, valued at about N46 million.

AIICO Insurance traded about 40 million units of its shares in 396 deals, valued at about N67.5 million.

CUSTODIAN traded about 20 million units of its shares in 47 deals, valued at about N121.8 million.

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