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NSE Market Cap Loses N180b As Dangote Cement Sheds N8.42k


By Modupe Gbadeyanka

The Nigerian equity market recorded a further drop on Tuesday just like the previous day with the major market indicator falling by 1.95 percent.

The all-share index lost 523.27 points or 1.95% to finish at 26,364.27 points, while the market capitalisation shed N180.1 billion to close at N9.07 trillion.

Dangote Cement slumped by N8.42k at the market to lead the losers’ chart, closing at N164.1k per share while Forte Oil fell by N5.98k to close at N113.72k per share.

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Also, Lafarge Africa lost N2.74k to finish at N52.14k per share, Okomu Oil shed N2.30k to end at N44.70k per share and UACN depreciated by 93k to finish at N17.67k per share.

Investors at the Nigerian Stock Exchange (NSE) market traded a total of 189 million shares in 3,434 deals valued at N1.6 billion on Tuesday. This showed an improvement from what was achieved on Monday, where 115.04 million shares worth N1.16 billion in 2,963 deals were exchanged.

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Guinness went up by N2.50k at the market to close at N88.50k per share, while Nigerian Breweries appreciated by N2 to finish at N144 per share.

CAP Plc gained N1.62k to end at N34.2k per share, GlaxoSmithKline improved by 75k to finish at N15.75k per share, while Eterna Oil pushed up by 14k to close at N3.36k per share.

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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