Amaechi Raphael Chinedu
@Official_ARC·1d
One heavyweight, 447k shares: how Dangote Cement pulled the NGX down 0.91% today
Monday's close: the All-Share Index fell 0.91% (-2,261.39 pts) to 245,278.34, its lowest close in five sessions. Market value dropped about ₦1.47trn to ₦159.26trn. Year to date, the index is still up about 57.6%.
The headline drag was 
$DANGCEM . It fell 5.50% (₦58.70) to ₦1,008.00, and that pulled the Industrial Index down from 10,442.95 to 10,140.51.
Here's the part worth noticing: only 447,271 Dangote Cement shares changed hands today, about ₦450m worth. But the ASI is weighted by market value, and the closing price reprices every share of a company worth around ₦17trn. That's how a fairly small trade in one heavyweight can outweigh a handful of small-cap gainers.
Banks added to the slide. Ecobank 
$ETI fell 4.76% to ₦68.00, Wema Bank 3.55% to ₦29.90, UBA 2.33% to ₦42.00, Zenith Bank 1.59% to ₦124.00 and 
$GTCO fell 1.44% to ₦123.00. The Banking Index slipped from 2,532.47 to 2,497.01.
Breadth was weak: 15 stocks rose and 40 fell. Multi-Trex (+10.00% to ₦0.66), Critical Minerals Financing (+9.97% to ₦3.64) and Austin Laz (+9.93% to ₦3.21) led the gainers, while Vitafoam (-10.00% to ₦174.60), Cutix (-9.79% to ₦2.12) and Omatek (-9.38% to ₦1.45) led the losers. Trading got busier too: 349.34m shares across 43,115 deals, about 36% more volume than Friday.
Oil & gas mostly held its ground. The sector index slipped just 0.06%, and Aradel closed flat at ₦1,499.90.
Tomorrow, Tue Oct 20, GTCO pays its ₦1.00 interim dividend.
Want to see how a day like this hits your own holdings? Add your portfolio on Gopexly and your daily moves sit next to the stocks you actually own.
Not financial advice, just the close.
$DANGCEM . It fell 5.50% (₦58.70) to ₦1,008.00, and that pulled the Industrial Index down from 10,442.95 to 10,140.51.
Here's the part worth noticing: only 447,271 Dangote Cement shares changed hands today, about ₦450m worth. But the ASI is weighted by market value, and the closing price reprices every share of a company worth around ₦17trn. That's how a fairly small trade in one heavyweight can outweigh a handful of small-cap gainers.
Banks added to the slide. Ecobank $ETI fell 4.76% to ₦68.00, Wema Bank 3.55% to ₦29.90, UBA 2.33% to ₦42.00, Zenith Bank 1.59% to ₦124.00 and $GTCO fell 1.44% to ₦123.00. The Banking Index slipped from 2,532.47 to 2,497.01.
Breadth was weak: 15 stocks rose and 40 fell. Multi-Trex (+10.00% to ₦0.66), Critical Minerals Financing (+9.97% to ₦3.64) and Austin Laz (+9.93% to ₦3.21) led the gainers, while Vitafoam (-10.00% to ₦174.60), Cutix (-9.79% to ₦2.12) and Omatek (-9.38% to ₦1.45) led the losers. Trading got busier too: 349.34m shares across 43,115 deals, about 36% more volume than Friday.
Oil & gas mostly held its ground. The sector index slipped just 0.06%, and Aradel closed flat at ₦1,499.90.
Tomorrow, Tue Oct 20, GTCO pays its ₦1.00 interim dividend.
Want to see how a day like this hits your own holdings? Add your portfolio on Gopexly and your daily moves sit next to the stocks you actually own.
Not financial advice, just the close.0 views
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