Nigerian stocks saw their combined market value fall by N391.32bn at the end of trading on Thursday as Dangote Cement Plc and 14 others recorded price losses.
The NGX All-Share Index dropped by 1.77 per cent to close at 41,685.22 basis points, while the market capitalisation slumped by N391.32bn to N21.75tn.
The market activities on the floor of the NGX were bearish as the total volume and value traded dipped by 27.13 per cent and 28.15 per cent, respectively.
A total of 473.47 million shares valued at N5.18bn was traded in 3,874 deals, compared to 649.77 million units worth N7.2bn in 3,757 deals traded on Wednesday.
FBN Holdings Plc emerged as the most traded stock by volume and value, accounting for 48.27 per cent of the total volume of trades and 50.51 per cent of the total value of trades on the exchange.
The market sentiment, as measured by market breadth, was positive, recording 22 gainers and 15 losers.
Analysing by sectors, the sentiment was relatively positive, as four of the five sectors appreciated, namely NGX Oil and Gas (1.7 per cent), NGX Banking (1.68 per cent), NGX Insurance (1.11 per cent) and NGX Consumer Goods (0.09 per cent), while the NGX Industrial Goods declined by 5.34 per cent.
Dangote Cement saw the biggest loss as its share price slid by 10 per cent to N252. It was followed by UAC of Nigeria Plc with a 10 per cent drop to N9 per share.
Other major losers were Neimeth International Pharmaceuticals Plc, May and Baker Nigeria Plc, and Pharma-Deko Plc.
Sky Aviation Handling Company Plc led the gainers’ chart with a 9.66 per cent increase to close at N4.88 per share. Oando Plc came next with an 8.33 per cent gain to close at N4.93 per share.
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