Mobil, Dangote Cement cause NSE N28 billion loss

Following price losses suffered by virtually all the highly capitalised stocks, trading on the floor of the Nigerian Stock Exchange (NSE), closed negative yesterday, as market capitalisation fell by N28billion.

Yesterday, the local bourse closed on downturn despite a rally in small and midcap stocks as sell offs in Dangote Cement dragged the All Share Index 77.51 points lower to settle at 38,187.28 points, while year-to-date (YTD) return retreated to -0.1 per cent. Specifically, the All-share index depreciated by 77.51 points, from 38,264.78 recorded on Tuesday.

Also, the All-share index plunged by N28billion from N13.617trillion to N13.589trillion. Mobil topped the losers chart with 17.80 kobo to close at N176.80 per share while Dangote cement followed with 7.00 kobo to close at N223.00 per share. Presco loss 2.00 kobo to close at N66.50 per share.

Cadbury depreciated by 0.65 kobo to close at N14.95 per share. Unilever shed 0.35 kobo to close at N39.86 per share. Access Bank dropped 0.15 kobo to close at N10.45 per share. Cutix shed 0.10 kobo to close at N1.91 per share.

WAPCO led others on the gainers chart with 2.21 kobo to close at N47.10 per share, while Dangote Sugar Refinery followed with 1.51 kobo to close at N21.87 per share.

Dangote Flour gained 0.60 kobo to close at N12.75 per share. National Salt Company of Northern Nigeria garnered 0.58 kobo to close at N19.80 per share.

Ecobank TransNational Incorporated appreciated by 0.47 kobo to close at N16.74 per share. Skye Bank dominated in volume terms with 190 million shares valued at N190 million shares valued at N101.7million followed by TransNational Corporation with 93 million units worth N144million. Diamond Bank accounted for 79 million shares worth N136 million.

First City Monument Bank exchanged 61 million units worth N105 million. Fidelity Bank recorded 21 million shares valued at N60million. On the whole, activity level softened as volume and value traded fell 137.3 per cent and 18.8 per cent, as investors exchanged 589.6 million shares worth N13.6billion in 4,356 deals.

(Guardian)