Nigerian Stock Market Watch: Market Cap Shed N36 Billion

The Nigerian Stock Market shed N 36 Billion of its market capitalization this week.

Across consumer goods, the Dangote subsidiaries of flour and sugar consolidated on previous day gains, appreciating by 4.99% and 4.96% apiece. Another Dangote subsidiary Nascon, was up 375 points.x

Cabury was up just over 300 points, and UAC posted a marginal uptick of 14 points. Honeywell lost quite close to the full 500 points, Guinness shed 242 points even as Unilever and Flour Mills shed 4 and 2 points respectively.

In the infrastructure space, only Dangote Cement recorded a price movement today, the stock was down marginally by 39 points.

The Oil and gas sector saw movement in one ticker as Oando lost 226 points.

The banking sector saw only price appreciation in Wema and FCMB up 345 and 194 points apiece.

First Bank and UBA shed 20 and 175 points respectively. Fidelity lost 125 points.

Gainers across other sectors were CAP Plc that appreciated by 495 points, Transcorp 492 points, JaPaul 476 points and Ikeja hotels 443 points.

Top losers across sectors were Berger -5%, Skye -4.89%, and Honeywell -4.85%.

The Stock Market closed a largely bearish week in the red as the All Share Index depreciated 23 points. Weekly performance for the exchange was -0.51% and the Year to Date is -18%.

Over 208 million shares valued at N1.26 Billion were traded today.