Bearish sentiment persist as Dangote Cement, GTBank led losers

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 ₦88.5 billion as market capitalization fell to ₦13.7 trillion. However, activity level improved as volume and value traded rose 11.5% and 40.0% to 414.9 million units and ₦4.5 billion respectively.

Conversely, Lafarge Wapco led the gainers table for the day, improving by ₦2.00 to close at ₦42 .00 per share.

Unilever followed with a gain of ₦1.25 to close at ₦52.25, while Flour Mills appreciated by ₦1.15 to close at ₦32.20 per share.

Nestle gained ₦1.10 to close a ₦1, 501.10, while Nigerian Breweries appreciated by 60k to close at ₦111 per share.

Champion Breweries was the most active stock during the day, trading 140.36 million shares worth ₦269.51 million.

Sterling Bank followed with an account of 47.77 million shares valued at ₦66.42 million, while Zenith International Bank traded 26.23 million shares valued at ₦651.78 million.

Guaranty Trust Bank sold 22.76 million shares valued at ₦921.56 million, while FBN Holdings exchanged 19.56 million shares at a cost of ₦209.19 million.

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