Business

NSE index sheds 1.16%, as Mobil,lll Dangote Cement top losers

By Ayo Fadimu

The Nigerian Stock Exchange All Share Index recorded a decline of 378 points or 1.16 percent on Tuesday to close at 32,200.38 points against 3.85 percent growth recorded previously to close at 32,578.38 basis points, while the market capitalization depreciated by N130.7 billion or 1.16 percent to settle at N11 trillion.

Market breadth, however, remained positive, with 39 gainers versus 11 losers.

The day’s top five losers were Mobil that lost 9.75 percent to close at N288.56 per share. Nigeria Police Force Micro Finance Bank and Dangote Cement fell 5 percent each to close at N1.33 and N199.50 respectively, while Unilever and Axa Mansard came fourth and fifth on the losers chart shedding 4.53 and 4.4 percent each to close at N35.79 and N2.37 per share each.

On the other hand, Sterling Bank led the gainers with a 9.76 percent increase in share price that closed at 90 kobo. It was followed by May & Baker that grew 9.69 percent to close at N2.15 and Champion Breweries added 9.15 percent to close at N3.10 per share. Diamond Bank and UAC- Prop likewise appreciated 5.79 percent and 5.17 percent each to close at N1.28 and N2.85 per share.

Leading the day’s activities in terms of volume sold were, Diamond Bank, with 133.5 million shares valued at N168.7 million, followed by Fidelity Bank with 76.8 million shares worth N102.6 million, while Access Bank traded 69.6 million shares valued at N652.1 million.

FBN Holdings also traded 66.5 million shares worth N484.2 million, and FCMB traded 59.7 million shares valued at N79.3 million.

The day’s transactions were carried out in 7,841 deals compared to 7,024 deals recorded on Monday.  Total volume traded increased slightly to 745 million shares from 708.4 million shares recorded in previous trading session, while Value of shares traded reduced to N6.52 billion from N7.7billion recorded previously.

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