Dangote cement, Seplat top losers’ chart at NSE

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Dangote cement factory
Dangote cement factory

By Chinyere Joel-Nwokeoma

Price movement  on Thursday at the Nigerian Stock Exchange (NSE)  indicates  that Seplat, Dangote Cement and Forte Oil topped the losers’ chart, the News Agency of Nigeria (NAN) reports.

Some highly capitalised stocks also recorded price depreciation on the exchange  leading to the decline of market indicators for the fourth day running.

Seplat led the pack with a loss of N25 to close at N725 per share.

Dangote Cement trailed with a loss of N3 to close at N245, while Forte Oil declined by 85k to close at N40.

NASCON shed 60k to close at N20.40, while the shares of Guaranty Trust Bank declined by 50k to close at 44.50 per share.

Consequently, the All-Share Index plunged further by 165.18 points or 0.40 per cent to close at 40,914.94 compared with 41,080.12 achieved on Wednesday.

Similarly, the market capitalisation lost N60 billion or 0.40 per cent to close at N14.820 trillion against N14.880 trillion on Wednesday.

On the other hand, Okomu Oil topped the gainers’ table during the day, gaining N4.05 to close at N85.05 per share.

Cement Company of Northern Nigeria followed with a gain of N2.45 to close at N27.05, while CAP appreciated by N1.80 to close at N38.90 per share.

MRS added N1.40 to close at N29.75, while Zenith Bank gained 45k to close at N27.95 per share.

NAN also reports that the volume of shares traded dropped by 28.19 per cent, while the value of shares transacted declined by 56.16 per cent.

Investors traded 244.92 million shares valued at N4.09 billion in 3,804 deals against 341.06 million shares worth N9.33 billion transacted in 3,790 deals on Wednesday.

Zenith Bank was the investors’ delight, exchanging 79.35 million shares valued at N2.18 billion.

Access Bank followed with 19.91 million shares worth N224.92 million, while United Bank for Africa sold 19.04 million shares valued at N223.24 million.

Fidelity Bank exchanged 13.39 million shares worth N33.56 million, while CAP sold a total of 9.16 million shares valued at N356.38 million. (NAN)


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