Dangote Cement Shareholders Lose N409 Billion On Sell Pressure.

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Negative sentiment witnessed on shares of some blue-chip firms quoted on the Nigerian Exchange has resulted in shareholders of Dangote Cement Plc losing about N409 billion in today’s trading.

Checks by Nairametrics showed that the cement firm dropped by 9.06% to N241 per share from N25.45 the previous day.

Further analysis showed Dangote Cement closed the day at N241.00 per share and N4.106 trillion in market capitalisation; on the Nigerian Stock Exchange (NGX) as against N265.00 per share and N4.515 trillion in market capitalisation; hence earned a loss of N409 billion or 9.06%.

Consequently, the Nigerian stock market closed negative amidst buy-interests and sell-offs as bears dominated proceedings for the sixth consecutive day.

The All-share Index (ASI) depreciated by 2.25% to close at 49,350.71 index points; as against 50,489.73 index point the previous day. 

Nairametrics.

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