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Dangote Cement, Guinness lead equities lower

By on November 26, 2014

The market capitalisation of the listed equities on the Nigerian Stock Exchanged dipped by N57bn on Monday to N11.184tn, due largely to decline in the share prices of Dangote Cement Plc and Guinness Nigeria.

A total of 28 equities appreciated in price, while 17 depreciated in price on Monday. However, a N3.74 drop in the share price of Dangote Cement, which is the most capitalised stock on the Exchange, helped to erase the gains.

Guinness Nigeria fell by N2.64 to close at N157.36 per share, while International Breweries shed N1 to close at N28 per share.

As for the gainers, Nestle Nigeria Plc was up by N15.01 to N860.01 per share, Seplat Petroleum Development Company Plc rose by N3.99 per share, while Nigerian Breweries was up by N2.49 per share to close at N160 per share.

Okomu Oil Plc and Oando Plc rose by N1.34 and N1.02 to close at N28.14 and N21.41 per share, respectively.

At the close of trading, the NSE All Share Index fell by 0.15 per cent or 50.92 basis points to close at 33,875.26 basis points, compared to the 1.49 increase it recorded on Friday to close at 33,926.18 basis points.

Consequently, its year-to-date return now stands at -18.04 per cent.

A review of the NSE’s sectoral indices showed that Oil and Gas sector appreciated the most, gaining 1.88 per cent to close at 397.62 basis points. The NSE industrial index, on the other hand, fell by 1.02 per cent to close at 2,033.21 basis points and record the biggest drop for the day.

The banking sub-sector led the activity chart, accounting for 54 per cent of total turnover volume traded on Monday.

In the sub-sector, investors staked N1.302bn on 143.555 million shares in 1,176 deals. Volume was driven in the sub-sector by trading in the shares of Zenith Bank Plc, Sterling Bank Plc and Wema Bank Plc.

Access Bank Plc and Skye Bank Plc also recorded high volume turnover in the sub-sector.

The most traded equity for the day, according to the Exchange, was FBN Holding Plc with 53.929 million shares worth N501.4m sold. This accounted for 20.3 per cent and 17.3 per cent of the total turnover for the day.

 

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