The Nigerian stock market on Thursday closed on a bearish note, occasioned by 10% drop in the share price of Dangote Cement.
The All Share Index declined by 1.77% to close at 41,685.22 points from the previous close of 42,435.16 points.
The Market Capitalisation declined by 1.77% to close at N21.751 trillion from the previous close of N22.143 trillion, thereby shedding N392 billion.
An aggregate of 473.47 million units of shares were traded in 3,874 deals, valued at N5.176 billion.
The Market Breadth closed positive as 22 equities emerged as gainers against 15 equities that declined in their share prices.
Skyway Aviation led other gainers with 9.66% growth to close at N4.88 from the previous close of N4.45.
Oando and Coronation Insurance among other gainers also grew their share prices by 8.83% and 8.51% respectively.
Dangote Cement and UACN led other price decliners as they shed 10% of share price to close at N252 and N9 respectively.
Neimeth and May & Baker among other price decliners also shed 6.86% and 6.46% of their share prices respectively.
FBNH traded about 441.93 million units of its shares in 340 deals, valued at N2.61 billion.
Access Bank traded about 45.62 million units of its shares in 242 deals, valued at N421.86 million.
Sterling Bank traded about 37.86 million units of its shares in 46 deals, valued at N56.84 million.