Stock market capitalisation dips N99bn on Dangote Cement loss

Transactions on the Nigerian Exchange (NGX) closed in red on Thursday, losing N99 billion on losses posted by Dangote Cement and 20 other stocks.
Consequently, the market capitalisation which opened at N19.928 trillion dipped N99 billion or 0.99 per cent to close at N19.829 trillion.
Also, the All-Share Index inched lower by 189.10 points or 0.49 per cent to close at 38,044.58 compared with 38,233.68 posted on Wednesday.
Accordingly, the month-to-date and year-to-date losses increased to 4.5 per cent and 5.5 per cent, respectively.
The market downturn was driven by price depreciation in large and medium capitalised stocks amongst which are; Dangote Cement, Guaranty Trust Bank, MRS Oil, Eterna and UACN.
Market sentiment closed negative with 16 gainers in contrast with 21 losers…….TO CONTINUE READING CLICK ON

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