Equities Down 0.06% On Cement Stocks

Equities Down 0.06% On Cement Stocks

Oladejo Amos
The industrial goods sector recorded highest sell offs in the equities segment of the Nigerian Stock Exchange on Wednesday, as investors dumped cement stocks.
The All Share Index depreciated 0.06 per cent to close at 25,630.62 points, compared to the decline of 0.70 per cent recorded the preceding day to close at 25,646.56 points.
Market capitalization N2billion to close at N8.819 trillion, compared to the drop of N63 billion recorded the preceding day to close at N8.821 trillion.
Further analysis showed that the depreciation recorded in the share prices of Dangote Cement, Dangote Sugar, Flour Mills, Lafarge Africa and ETI were mainly responsible for the loss recorded in the index.
The total value of stocks traded was N1.60billion, up 17.59 per cent from N1.36billion recorded the preceding day.
The total volume of stocks traded was 198.45million in 3,538 deals, while the three most actively traded stocks were FCMB, Guaranty Trust Bank and United Bank for Africa.
Tigger Brands lead the gainers’ table with 46 kobo or 10.02 per cent to close at N5.05 per share, followed by Livestock Plc with four kobo or five per cent to close at 84 kobo per share.
Champion Breweries Plc added 14 kobo or 4.98 per cent to close at N2.95 per share, while Diamond Bank Plc appreciated eight kobo or 4.97 per cent to close at N1.69 per share.
Union Dicon Salt Plc rose 61 kobo or 4.97 per cent to close at N12.89 per share, while Cement Company of Northern Nigeria Plc was up 33 kobo or 4.92 per cent to close at N7.04 per share.
Conversely, Wema Bank Plc lost seven kobo or 8.75 per cent to close at 73 kobo per share, while Caverton Plc depreciated 13 kobo or 8.61 per cent to close at N1.38 per share.
John Holt Plc declined four kobo or five per cent to close at 76 kobo per share, while University Press Plc dipped 27 kobo or 4.98 per cent to close at N5.15 per share.
Flour Mills Plc shed N1.23 or 4.92 per cent to close at N23.76 per share, while Eterna Oil Plc was down 14 kobo or 4.83 per cent to close at N2.76 per share.