Stock market closes lower by 0.63% as Dangote Cement sheds weight

The Nigerian stock market on Monday closed on a bearish note, occasioned by 3.26% loss in the share price of Dangote Cement.

The All Share Index declined by 0.63% to settle at 38,567.26 points from the previous close of 38,810.75 points.

The Market Capitalilastion depreciated by 0.63% to close at N20.094 trillion from the previous close of N20.221 trillion, thereby shedding N127 billion.

An aggregate of 194.95 million units of shares were traded in 3,830 deals, valued at N1.014 billion.

The Market Breadth positive as 19 equities appreciated in their share prices against 18 equities that declined in their share prices.

Percentage Gainers

Conoil led other gainers with 9.83% growth, closing at N22.35 from the previous close of N20.35.

Northern Nigerian Flour Mills, Skyway Aviation and Academy Press among other gainers also grew their share prices by 9.76%, 9.18% and 7.89% respectively.

Percentage Losers

University Press led other price decliners as it shed 9.79% of its share price, closing at N1.29 from the previous close of N1.43.

Linkage Assurance and NPF Microfinance Bank among other price decliners also shed their share prices by 7.81% and 4.26% respectively.

Volume Drivers

Wema Bank traded about 25.77 million units of its shares in 51 deals, valued at N22.33 million.

Ellah Lakes traded 25.02 million units of its shares in 8 deals valued at N106.36 million.

Fidelity Bank traded about 16.14 million units of its shares in 82 deals, valued at N38.65 million.

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