Again, Meristem Facilitates Huge Transaction in Dangote Cement

[ad_1]

Dangote Cement Plc on Monday recorded another huge transaction as investors staked over N124 billion on about 551 million shares at the stock market.

The transaction lifted the overall value of transactions by 1,294 per cent with investors staking N127.933 billion on 752.113 million shares in 3,576 deals, up from N9.173 billion invested in 425.254 million shares in 4,104 deals last Friday.

The huge investment in Dangote Cement Plc is coming five days after similar transaction last Wednesday when investors staked N26.99 billion on about 128.560 million shares of the cement firm. This followed the N87.360 billion invested in 416 million shares in August.

THISDAY checks showed that all the transactions have been facilitated by Meristem Securities Limited. However, the transaction of yesterday was the highest as the firm facilitated the trading of 549 million shares valued at N124.12 billion.

Although the stockbroking firm declined to comment, it was gathered that the transaction must have come from an existing foreign investor increasing its stake in the cement company.

Meanwhile, the market closed on a bearish note with the Nigerian Stock Exchange (NSE) All-Share Index falling by 1.24 per cent to close at 37,957.96, while market capitalisation shed N162.1 billion to close at N13.5 trillion.

In all, there were 19 price gainers and 19 price losers. Presco Plc led the price gainers with 8.8 per cent, trailed by UACN Property Development Company Plc with 5.6 per cent. Champion Breweries Plc and Vitafoam Nigeria Plc garnered 5.0 per cent apiece, just as Union Bank of Nigeria Plc added 4.9 per cent.

Conversely, Cadbury Nigeria Plc led the price losers with 5.8 per cent, trailed by Eterna Plc and International Breweries Plc shed 5.0 per cent each. NASCON Allied Industries Plc and Caverton Offshore Support Group Plc closed 4.3 per cent lower.

In terms of sectoral performance, three of five sectors trended southwards, one closed in the green and the other flat. The NSE Industrial Goods Index led laggards, down 2.0 per cent The NSE Consumer Goods Index trailed, falling 0.7 per cent while the NSE Insurance Index shed 0.5 per cent. The NSE Banking Index emerged the lone gainer, rising by 0.4 per cent.

According to market analysts, “While we envisage further trickles of profit-taking activities, we anticipate a reversal of the current market sentiment, as we expect investors to take position in counters that shed significantly in the previous week.”


[ad_2]

Source link

قالب وردپرس



We hope you enjoyed reading the above post. How about helping us share the information to your fans and friends on social media? Meanwhile, you can rely on us daily for the latest and relevant free forex trading signals, free forex trading market news, free forex trading technical levels, weekly Pool draws, latest news from Nigeria and the world, educational articles and quality academic information, insurance news and scientific knowledge.



Do you need a classical ORGANIST or an excellent music teacher? CALL Fabian on 08033983034 or email him at agfab2013@gmail.com


Follow us on twitter @newsbeatportal

learn how to make profit from your losing bets on nairabet, bet9ja, merrybet, surebet. 07030635051
Engage #SantexTech today to build & install inverters, training on inverters & other electronic designs, projects/kits. Call 08039574535


Click to join Talk Nigeria Today, a group where hot, controversial, and breathtaking issues are brainstormed upon.

Konga Verified Blogger

Leave a Reply