Dangote Cement Plc and MTN Nigeria Plc recorded a combined loss of about N1.878 trillion at the end of Monday’s trading session as the domestic bourse came under selling pressure.

    The local bourse lost 3.15%, with the benchmark index settling at 102,393.23 points, down from the 105,722.78 it closed at on Friday.

    Market analysts attributed the development to investors taking profits after a significant bullish rally that has been witnessed in recent times.

     

     

    Breakdown of the loss:

    Checks by Nairametrics showed that both companies’ stocks dropped by a maximum of 10% each at the close of trading as investors stepped up profit-taking.

    Further checks by Nairametrics revealed that Dangote Cement Plc closed the trading day at N686.70 per share, with a market capitalization of N11.702 trillion on the Nigerian Stock Exchange (NGX).

    This is in contrast to its position last Friday, where it closed at N763.00 per share and a market capitalization of N13.002 trillion, indicating a loss of N1.300 trillion or 10%.

    Similarly, MTN Nigeria shares declined to N247.50 per share, with a market capitalization of N5.196 trillion after the day’s trading.

    This is down from N275 per share and a market capitalization of N5.774 trillion recorded the previous trading day, resulting in a loss of N578 billion or 10% in market capitalization.

     

    The equities market performance:

    The equities market began that week on a bearish note following massive profit-takings by investors.

    Accordingly, the local bourse experienced a 3.15% decline as the benchmark index settled at 102,393.23 points.

    Sell-offs of industrial heavyweights, Dangote Cement (DANGCEM) (-10.00%), along with MTN Nigeria (MTNN) (-10.00%) and Zenith Bank (ZENITHBANK) (-0.28%), counterbalanced gains in Geregu Power Plc (GEREGU) (+5.44%), Transcorp Plc (TRANSCORP) (+4.55%), and Fidelity Bank Plc (FIDELITYBK) (+0.94%).

    Consequently, the All-Share Index (ASI) year-to-date (YTD) return dropped to 36.94%, while the market capitalization shed ₦1.82 trillion to close at ₦56.03 trillion.

    An analysis of the day’s market activities indicates that trade turnover settled lower compared to the previous session, with the value of transactions decreasing by 7.58%.

    A total of 273.85 million shares valued at ₦7.44 billion were exchanged in 9,688 deals. Guaranty Trust Holding Company Plc (GTCO) (+0.00%) led the volume chart with 28.85 million units traded, while Geregu Power Plc (GEREGU) (+5.44%) led the value chart with deals worth ₦1.74 trillion.

     

    MARKET STATUS: CLOSED

     

    loading...
    Gainers
    Decliners
    Volume
    VETIVA S&P NIGERIA SOVEREIGN BOND ETF375.00+49.93%12/04
    TRANSCORP14.95+9.93%12/04
    MORISON INDUSTRIES2.56+9.87%12/04
    OANDO12.55+9.61%12/04
    CAVERTON OFFSHORE SUPPORT1.78+8.54%12/04
    ACCESS HOLDINGS19.30-14.22%12/04
    UNITED CAPITAL20.10-11.06%12/04
    MULTIVERSE13.75-10.13%12/04
    DANGOTE SUGAR REFINERY53.10-10.00%12/04
    GUARANTY TRUST HOLDING41.40-10.00%12/04
    UNITED BANK FOR AFRICA26.30148,881,85412/04
    ZENITH BANK40.00135,810,41612/04
    GUARANTY TRUST HOLDING41.4098,755,07312/04
    TRANSCORP14.9571,430,61312/04
    ACCESS HOLDINGS19.3044,310,09612/04

    🇳🇬 Nigerian Naira



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