Trading at the stock market resumed for the new week on a bearish note as the Nigerian Stock Exchange All-Share Index fell by 0.45 per cent to close at 26,866.41. Similarly, the market capitalisation shed N58.9 billion to close at N13.1 trillion.
However, analysts at Cordros Capital had said while they expected the negative trading to persist through the final quarter of the year, they also expected some pockets of gains over the final months of the year as fund and portfolio managers realign portfolios prior to the start of 2020. Meanwhile, the price losers’ chart for yesterday was led by Cornerstone Insurance Plc with 10 per cent, trailed by Seplat with 6.8 per cent. Cadbury Nigeria Plc shed 5.7 per cent as investors appeared to be ignoring the impressive half year results posted by the company.
Profit before tax stood at N953 million compared with a loss of N424 million, while the company ended with a profit after tax of N669 million.
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