Dangote cement drags equity market down by N671bn

Oct. 4, 2024 - Punch Newspapers

At the end of Thursday’s trading session, the Nigerian equity market experienced a decline of N671bn, primarily due to the performance of Dangote Cement. Also, a total of 268,394,149 million shares were traded in 8,565 deals, corresponding to a market value of N6.

76bn. This data reflects a 37 per cent decline in volume, a 20 per cent decline in turnover, and a 28 per cent decline in deals compared to the previous trading day.

Conversely, Dangote Cement and McNichols recorded the most significant drop, with an end-of-day price depreciation of 10 per cent. Also, the all-share index dipped by 0.

33 per cent to close at 98,232.39, and the market capitalisation stood at N56.

5tn...