Dangote Cement Boosts Nigerian Stock Market By N16.23bn

Tradings on the Nigerian Stock Exchange (NSE) closed bearish on Thursday 10th October 2019 as key market growth indices continue tanking.

 The negative trend was as a result of major losses incurred by Custodian Plc, Flour Mills, Ecobank, UBA, and Fidson Healthcare. They depreciated by -5.83%, -1.67%, -2.63%, -1.67%, and -1.37% respectively .  

The NSE All-Share Index (ASI) dips marginally by -0.06% to close at 26,598.94 basis points. The NSEASI Year-to-Date currently stands at -15.42%. The NSE Market Capitalization declined by N7.39 billion for the day to close at N12.94 trillion.

A total number of 363.26 million shares units exchange hands in 2,650 deals worth N19.01 billion. 

Dangote Cement was the most traded stock for the day. The industrial goods firm traded heavily for the day. Dangote Cement led the volume and value activities charts for the day.

The firm transacted 114.69 million shares units worth N16.63 billion. The main reason for the high voluminous trade is because Dangote Cement is currently trading at a 52 week low. The Pan-African giant shares price currently stands at N145. 

Access Bank Plc transacted 80.66 million shares units valued at N592.73 million. First City Monument Bank completed the top three traded stocks for the day. The lender sold 51.64 million shares units worth N82.63 Million. 

Dangote  Cement, Access Bank, and Zenith led the top three traded stocks by value. They added N16.63 billion, N592.73 million, and  N314.69 million respectively to the total market equity. 

Learn Africa Plc was the best-performing stock for the day. The stock appreciated by 9.82% to close at N1.23. Livestock Feeds Plc was up by 9.30% to close at 47 Kobo. United Capital Plc completed the top three gainers for the day. The stock advanced by 7.50% to close at N2.15.

On the flip side, Wapic Insurance Plc was the worst-performing stock for the day. The stock declined by -8.57% to close at 32 Kobo. Linkage Assurance Plc depreciated by -7.84% to close at 47 Kobo. Custodian Investment Plc rounded the top three losers for the day. The stock went down by -5.83% to close at N5.65. 

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