• Wednesday, February 21, 2024
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Unilever, Dangote Cement, ETI lead laggards

The Nigerian stock market was down by 0.16 percent yesterday as the sell side outweighed the buy side at the local bourse.

At the close of deals on the trading floor, the Nigerian Stock Exchanges (NSE)-All Share Index (ASI) depreciated yesterday by 65.16 points to
close at 40,984.12 points from 41,049.28 points recorded the preceding trading day (Friday).

Also, market capitalisation decreased to N13.53trn from N13.55trn the preceding trading day, indicating equities value loss of about N2bn.

This decline was largely driven by losses witnessed in the shares of Unilever Nigeria plc, Dangote Cement plc, Ecobank Transnational Incorporated, International Breweries plc, and that of Guaranty Trust Bank plc.

Unilever Nigeria plc led the table of 23 losers after its share price dropped from N50 to N48.26, losing N1.74; followed by Dangote Cement plc dropped from N224 to N222.85, losing N1.15. ETI shares also dropped from N19 to N18.1, down by N0.9; International Breweries plc dropped from N29 to N28.36, losing N0.64; while Guaranty Trust Bank plc declined from a high of N28.95 to N28.51, losing N0.44.

On the positive side, Nestle Nigeria plc led the pack of 29 gainers after its share price moved up from N1,050 to N1,069.9, adding N19.9; followed by Seplat Petroleum Development Company plc which gained N10, from N640 to N650.

Lafarge Africa plc rallied from N127.5 to N131, adding N3.5; followed by Julius Berger Nigeria plc which rallied from N64 to N67.2, adding N3.2.

PZ Cussons appreciated from N33.39 to N34.99, adding N1.6. Trading activities on the Nigerian bourse decreased by 40.55 percent as investors
bought 344.98m shares worth N4.13bn in 4,663 deals.

This is compared to 580.25m shares worth N4.63bn traded in 4,388 deals last Friday. FBNH plc, Wapic Insurance plc, and Skye Bank plc, UBA
plc, and Transcorp plc were the most actively traded stocks on the Exchange yesterday in terms of volume.