Nestle, Dangote Cement losses drag stocks down by 0.91%

Activities resumed on the Nigerian Stock Exchange (NSE) yesterday on a downward slide with the market indicators depreciating by 0.91 per cent.

Some highly capitalised equities posted price losses with Nestle leading the losers’ pack with N9.99 loss to close at N1,200.01 per share.

Dangote Cement came second with a loss of N9.38 to close at N215.62, while Stanbic IBTC dipped 74k to close at N38.11 per share.

Lafarge Africa was down by 50k to close at N58.50 and Zenith International Bank shed 28k to close at N24 per share.

Consequently, the market capitalisation shed N116 billion or 0.91 per cent to close at N12.609 trillion compared with N12.725 trillion posted on Friday.

Also, the All-Share Index dipped 336.12 points or 0.91 per cent to close at 36,584.44 against 36,920.56 achieved on Friday.

A breakdown of the gainers’ chart showed that Beta Glass led the table with a gain of N2.51 to close at N59.84 per share.

Flour Mills followed with N2.49 to close at N31 and Nigerian Breweries gained N2.48 to close at N183.50 per share.

Guaranty Trust Bank advanced by N1.20 to close at N40.70, while Unilever appreciated by 50k to close at N46 per share.

However, the volume of shares traded closed higher by 34.55 per cent with an exchange of 368.38 million shares valued at N6.27 billion transacted in 3,729 deals. (NAN)