Shareholders Of Dangote Cement, Others Lose N621.60bn In Stock Trading

Report from the Nigerian stock market showed that shareholders in Dangote Cement and others on the losers list on Wednesday lost N621.60 billion to selloffs.

The loss reduced the valuation of the Nigerian bourse by 1.74 per cent to N34.91 trillion market capitalisation, from N35.54 trillion posted on Tuesday, according to the Nigerian Exchange Limited (NGX).

Similarly, the All-Share Index dropped to 64,167.39 ASI, losing 1,142.26 basis points from the 65,309.65 ASI reported the day before. 

On Wednesday, 238.03 million shares, worth N2.61 billion, were traded in 6,001 deals, against the previous day’s 317.80 million shares traded in 6,376 deals, worth N4.47 billion, on Tuesday. 

Top five gainers 

• Omatek’s share appreciated by 10 per cent to rise from N0.30 kobo to N0.33 kobo per share. 
• Guinea Insurance grew by 10 per cent, up from N0.30 kobo to N0.33 kobo per share.     
• Tantalizer ended trading at N0.36 kobo from N0.33 kobo per share, rising by 9.09 per cent.     
• Abbey Mortgage Bank gained N0.13 kobo to end trading at N1.59 kobo, having opened with N1.46 kobo per share.      
• TIP’s stock was up by 8.86 per cent, closing at N0.86 kobo from N0.79 kobo per share. 

Top five losers 

• Multiverse depreciated by N0.35 kobo, dwindling from N3.50 kobo to N3.15 kobo per share.       
• Nascon declined by N4.10 kobo to end trading at N36.90 kobo, after opening at N41 per share.       
• John Holt followed the same path, losing N0.13 kobo after trading hours, to sell at N1.20 kobo from N1.33 kobo per share.       
• Dangote Cement reported a decline of N32 from the previous day’s share price of N352 to end trading at N320 per share.       
• Universal Insurance’s share depreciated to N0.22 kobo from N0.24 kobo, after losing 8.33 per cent during trading hours.  

Top five trading equities in the stock exchange 

• Sterling Financial reported 32.67 million shares, valued at N113.80 million, were traded on its floor.       
• Fidelity Bank recorded 21.12 million shares valued at N161.32 million.     
• Universal Insurance saw investors trade 15.91 million shares valued at N3.76 million.     
• UBA recorded 12.27 million shares exchanged on its floor, worth N176.55 million.     
• Transcorp reported 9.77 million shares, valued at N35.95 million, exchanged investors’ hands.

Fakoyejo Olalekan

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