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Bearish sentiment persist as Dangote Cement, GTBank led losers

By Peter Egwuatu

The bearish sentiment persisted on the Nigerian Stock Exchange, NSE on Thursday as declines in market bellwethers pushed the All Share Index (ASI) 0.6% lower to close at 37,733.44 points while Year to Date , YTD loss deteriorated to 1.3%.

Loses recorded by Dangote Cement Plc and Guaranty Trust Bank Plc contributed significantly to push the market indicators downward.

Dangote Cement Plc lost -2.2%, followed by Guaranty Trust Bank with a loss of 1.6%. Investors lost N88.5 billion as market capitalization fell to N13.7trillion. However, activity level improved as volume and value traded rose 11.5% and 40.0% to 414.9million units and N4.5billion n respectively.

Conversely, Lafarge Wapco led the gainers table for the day, improving by N2.00 to close at N42 .00 per share.

Unilever followed with a gain of N1.25 to close at N52.25, while Flour Mills appreciated by N1.15 to close at N32.20 per share.

Nestle gained N1.10 to close at N1, 501.10, while Nigerian Breweries appreciated by 60k to close at N111 per share.

Champion Breweries was the most active stock during the day, trading 140.36 million shares worth N269.51 million.

Sterling Bank followed with an account of 47.77 million shares valued at N66.42 million, while Zenith International Bank traded 26.23 million shares valued at N651.78 million.

Guaranty Trust Bank sold 22.76 million shares valued at N921.56 million, while FBN Holdings exchanged 19.56 million shares at a cost of N209.19 million.

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