Dangote Cement, MTN, Others Reduce Market Value by N13bn

By Dipo Olowookere

The Nigerian Stock Exchange (NSE) closed 0.13 percent lower last Friday despite the mood of the market closing positive.

At the session, the market breadth closed positive with 15 price gainers as against 13 price losers, but the losses printed by Dangote Cement and MTN Nigeria supressed the gains recorded by the likes of Zenith Bank and GTBank.

Dangote Cement, which led the losers’ chart, fell by N3.40 to N125 per share, while MTN Nigeria lost 80 kobo to finish at N92 per share.

C&I Leasing depreciated by 60 kobo to sell at N5.60 per unit, Nigerian Breweries declined by 50 kobo to trade at N22 per share, while SAHCO decreased by 26 kobo to quote at N2.37 per unit.

On the flip side, Zenith Bank topped the gainers’ table after adding 90 kobo to its share price, closing for the day at N11.90 per share.

Access Bank appreciated by 55 kobo to N6.05 per unit, UAC Nigeria garnered 50 kobo to trade at N7 per share, GTBank added 30 kobo to its share value to sell at N17.60 per share, while Flour Mills gained 30 kobo to sell at N20.50 per unit.

Business Post reports that at the close of transactions last Friday, the All-Share Index (ASI) went down by 26.58 points to 21,094.62 points from 21,121.20 points, while the market capitalisation decreased by N13 billion to N10.994 trillion from N11.007 trillion.

Also, at the session, investors traded 235.3 million stocks valued at N3.0 billion in 3,988 deals compared with the 255.6 million equities worth N2.9 billion traded in 4,418 deals the previous session.

This indicated that the volume of transactions reduced by 7.94 percent, the number of deals declined by 9.73 percent, while the value of trades increased by 3.97 percent.

It was observed that unlike the previous sessions in the week, where Zenith Bank was the most active, last Friday, it was the turn of FBN Holdings, which traded 59.7 million units valued at N232.0 million.

GTBank traded 43.6 million equities worth N768.0 million, UBA exchanged 31.1 million stocks for N153.0 million, Zenith Bank transacted 27.8 million units worth N322.5 million, while Access Bank traded 15.4 million stocks for N88.1 million.