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Dangote Cement, BUA, Others Weigh on Nigerian Stock Exchange



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  • Dangote Cement, BUA, Others Weigh on Nigerian Stock Exchange

The Nigerian Stock Exchange (NSE) closed in the red as Dangote Cement, BUA Cement, MTN Nigeria etc weighed on the bourse on Tuesday.

Dangote Cement declined by 4.33 percent or N6.5 to close at N143.5 a share, while MTN Nigeria followed with 0.36 percent or 40kobo to close at N111.6.

BUA Cement lost 0.94 percent or 30kobo to settle at N31.6. CAVERTON and ARBICO shed 10 percent and 9.73 percent to close at 27kobo and 25kobo respectively.

Accordingly, the market capitalisation of listed equities depreciated by 1.06 percent to settle at N12.349 trillion.

The NSE All-Share Index also declined by 1.06 percent to close at 23,695.90 basis points.

The activity level was low as the volume and value traded declined by 24.85 percent and 5.35 percent, respectively.

Investors exchanged a total of 155.74 million shares valued at N1.67 billion in 4,005 transactions during the Tuesday’s trading hours.

FBNH led the most traded stocks with 27.8 million shares worth N133.6 million. The UACN, Guaranty, Zenith bank and MBENEFIT followed with 16.6 million, 14.9 million, 9.172 million and 8.1 million valued at N114.7 million, N314.7 million, N138.3 million and N1.6 million, respectively.

CILEASING led top gainers with 30kobo or 6.25 percent gain to close at N5.1 per share. ETERNA came second with a profit of 22kobo or 9.44 percent to settle at N2.55 per share. NPFMCRFBK, MAYBAKER and NEIMETH added 12kobo or 9.76 percent, 1kobo or 3.88 percent and 0.06kobo or 10 percent to close at N1.35, N2.68 and N0.66 per share.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and, with over a decade experience in the global financial markets.