Stock Exchange Loses N183bn as BUA Cement, Dangote Cement, Cadbury Close in Red

BUA Cement, Dangote Cement, Cadbury Drag Stock Exchange Down

The Nigerian Stock Exchange resumed bearish trend on Tuesday after rebounding for a day on Monday.

Broad-based profit-taking amid weak business sentiment dictates the pace across the nation’s stock market on Tuesday.

The market capitalisation of listed equities declined by N183 billion from N12.952 trillion recorded on Monday to N12.769 trillion on Tuesday.

While the NSE All-Share Index depreciated by 1.53 percent from 24,858.89 basis points on Monday to 24,479.22 bps on Tuesday.

Activity level was positive as investors traded 280.667 million shares valued at N3.138 billion in 4,464 deals during the trading hours of Tuesday.

In terms of volume traded, First Bank of Nigeria Holdings led with 68.210 million shares valued at N365.019 million. This was followed by the Nigerian Breweries with 22.520 million shares worth N805.421 million.

Japaul Oil, ABBEYBDs and FCMB added 17.828 million shares, 14 million shares and 10.216 million shares valued at N3.824 million, N14.700 million and N19.187 million, respectively.

Top Gainers

Neimeth led top gainers with 10 percent gain to close at N1.65 per share. Okomu oil closely trailed Neimeth with 9.94 percent gain to close at N77.4 per share. Law Union, Vital Form and Nigerian Breweries gained 6.19 percent, 5.47 percent and 3.14 percent to settle at N1.03 per share, N5.59 per share and N36.1 per share, respectively.

Top Losers

Bua Cement and Cadbury led top losers’ table with a 10 percent decline each to close at N38.7 per share and N6.75 per share.

Berger paint loses 9.40 percent to settle at N6.75 per share. WAPCO and Dangote Cement declined by 7.41 percent and 0.78 percent to close at N10 per share and N127 per share, respectively.