A record value loss seen in shares of Dangote Cement Plc made the Nigeria stock market not to sustain previous day’s gain.
The Nigerian Stock Exchange (NSE) All Share Index (ASI) recorded a decline of 0.13percent on Tuesday despite earlier expectations that the bullish outing observed on Monday will be sustained throughout the week.
Though this week, the market has advanced by 0.47percent, it has decreased by 1.27percent this month.
Read also: 90 percent of Nigeria’s processed food will be fortified by 2020 – Dangote, others pledge
The stock market’s year-to-date (ytd) negative return printed at -15.18percent. The NSE ASI closed at 26,660.44 points as against 26,695.18points recorded on Monday. The value of listed stocks decreased to N12.867trillion. Dangote Cement Plc recorded the highest price decline after its share price dropped from N142 to N140, losing N2 or 1.41percent, followed by NASCON Plc which decreased from a high of N14 to N13.25, losing 75kobo or 5.36percent.
Presco Plc led the gainers league after its share price rose from N43.5 to N47.5, adding N4 or 9.20percent, while Guinness Nigeria Plc advanced from N32.4 to N35.6, adding N3.2 or 9.88percent.
In 3,358 deals, equity dealers exchanged 331,915,565 units valued at N4.780billion. Access Bank, GTBank, Zenith Bank, Transcorp, and FCMB were actively traded stocks.
