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Dangote Cement leads laggards as stock market falls further

Dangote Cement

Nigeria’s stock market recorded another session of negative close on Tuesday August 11, driven by decline in prices of largely capitalised stocks like Dangote Cement Plc and Guinness Nigeria Plc. Investors lost about N75billion. The market’s negative returns year-to-date (YtD) increased to -7.30percent.

The All Share Index (ASI) decreased by 0.57 percent to 24,883.70 points while the value of listed equities on the Nigerian Bourse decreased to N12.980trillion from preceding day high of 25,027.61 points and N13.055trillion respectively.

In 3,925 deals, investors exchanged 206,609,577 units valued at N2.475billion. Dangote Cement led the laggards after its share price decreased from N141.8 to N136, losing N5.8 or 4.09percent. Guinness Nigeria Plc also advanced from N15 to N14.5, losing 50kobo or 3.33percent.

Mansard also dipped from N1.58 to N1.45, shedding 13kobo or 8.23percent. Ikeja Hotel Plc also lost, from N1.12 to N1.01, down by 11kobo or 9.82percent; while United Capital dipped from N3.24 to N3.14, losing 10kobo or 3.09percent.