Dangote Sugar, CAP lead N130bn market loss

Dangote Sugar, CAP lead N130bn market loss

Dangote Sugar, CAP lead N130bn market loss

Dangote Sugar Refinery Plc, CAP Plc, Airline Services and Logistics Plc, Portland Paints and Products Nigeria Plc and Nigerian Breweries emerged the top five losers at the close of trading on the floor of the Nigerian Stock Exchange on Wednesday after the market lost N130bn.

A total of 28 stocks declined in value while only 16 appreciated.

The NSE market capitalisation slid to N9.306tn from N9.436tn, while the All-Share Index also fell to 27,098.18 basis points from 27,475.48 basis points.

A total of 261.008 million shares worth N1.215bn were traded in 3,591 deals.

Dangote Sugar shares closed at N6.33 from N6.80, losing N0.47 (6.91 per cent), while those of CAP depreciated by N1.88 (4.95 per cent) to close at N36.12 from N38.

Airline Services and Logistics also saw a N0.09 (4.92 per cent) drop in its share price to close at N1.74 from N1.83, while the shares of Portland Paints depreciated by N0.10 (4.88 per cent) to close at N1.95 from N2.05.

Nigerian Breweries shares closed at N130.01 from N136.53, losing N6.52 (4.78 per cent).

Other losers were Union Homes Savings And Loans Plc, Eterna Plc, Fidson Healthcare Plc, Skye Bank Plc, AxaMansard Insurance Plc, Continental Reinsurance Plc, Union Bank of Nigeria Plc, Fidelity bank Plc, Dangote Cement Plc, Diamond Bank Plc, Nascon Allied Industries Plc, Law Union and Rocks Insurance Plc and FCMB Group Plc, among others.

On the other hand, Unity Bank Plc, Oando Plc, Forte Oil Plc, Flour Mills Nigeria Plc and NEM Insurance Company Nigeria Limited emerged to top five gainers.

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