The stock market on Thursday closed on a bearish note, occasioned by profit taking in Dangote Cement, bringing it to close at N260.60 from N284.90. The Cement manufacturing giant shed 8.53% at the close of trade.
The All Share Index declined by 1.12% to close at 46,529.99 points from the previous close of 46,529.99 points.
The Market Capitalisation closed at N24.793 trillion, down by 1.12% from the previous close of N25.073 trillion, thereby shedding N280 billion.
An aggregate of 279.44 million units of shares were traded in 4,582 deals, valued at N2.76 billion.
The Market Breadth closed positive as 26 equities emerged as gainers against 18 equities that declined in their share prices.
Percentage Gainers
Guinness and International Breweries led other gainers with 10% growth, closing at N46.75 and N5.5 respectively.
Ecobank and Prestige Assurance among other gainers also grew their share prices by 9.63% and 9.52% respectively.
Percentage Losers
NEM Insurance led other price decliners, shedding 8.57% of its share price to close at N3.20 from the previous close of N3.50.
Dangote Cement and AIICO Insurance among other price decliners also shed their share prices by 8.53% and 5% respectively.
Volume Drivers
UPDC Real Estate Investment Trust traded about 46.36 million units of its shares in 101 deals, valued at N181.87 million.
Courteville traded about 36.08 million units of its shares in 204 deals, valued at N21.32 million.
Transcorp traded about 16.89 million units of its shares in 132 deals, valued at N18.25 million.