Dangote Cement Share Drops As Investors Lose ₦280.61b In Hours Of Sell Off

Sell off at the stock market on Thursday was not in favour of some investors as there was a loss of over two hundred and eighty billion Naira in just eight hours of trading.

Records show that stockholders lost a total of ₦280.61 billion from their total investment value, which fell from ₦25.07 trillion.

This is even as Dangote Cement share fall off value from ₦284.90kobo to ₦260.60kobo per share after losing ₦24.30kobo during trading.

Naija News understands that the loss represents a 1.11 per cent dip in the market capitalisation, knocking it down to ₦24.79 trillion at the end of Thursday’s trading.

The All-Share Index moved in the same direction, losing 520.76 basis points as it headed down the hills on Thursday.

This caused the ASI to close at 46,009.23 index points, in contrast to Wednesday’s 46,529.99 points.

From statistics, the investors had exchanged ₦2.76 billion to trade ₦279.44 million shares in 4,582 deals, against Wednesday’s 328.99 million shares traded in 4,219 deals worth ₦4.81 billion.

Guinness ended the Thursday session leading the top five advancers with ₦4.25kobo gain in its share, which rose to ₦46.75kobo per share from ₦42.50kobo.

Meanwhile, International Breweries share increased in value, gaining ₦0.50kobo to end trading with ₦5.50kobo from ₦5 per share.

Ecobank share was up ₦1.05 to move from ₦10.90kobo to ₦11.95kobo per share. For Prestige, its share was up by 9.52 per cent to move from ₦0.42kobo to ₦0.46kobo per share.

Unilever gained N0.95kobo per cent as the share ended trading with N14 from N13.05 per share.

Naija News understands that the losers table was led by NEM, after losing ₦0.30kobo from its share which declined from ₦3.50kobo to ₦3.20kobo per share.

AIICO share dropped ₦5 to end trading at ₦0.76kobo from ₦0.80kobo per share. Ardoca lost ₦0.65kobo to end trading with ₦12.45kobo from ₦13.10kobo per share.

Multiverse completed the list after shedding 4.76 percent from its market price to drop from N0.21kobo to N0.20kobo per share.

For Thursday trading, the top trading equities are UPDC REIT, which reported an exchange of 46.35 million shares worth ₦181.87 million.

Courtville on its side traded 36.08 million valued at ₦21.32 million. Transcorp followed with 16.88 million shares valued at ₦18.24 million.

GTCO sold 16.04 million shares worth ₦409.65 million, while Multiverse traded 10.73 million valued at ₦2.20 million.