Home Business Nigerian Stock Market Suffers N1.11trn Loss as Dangote Cement’s Shares Plummet
Business

Nigerian Stock Market Suffers N1.11trn Loss as Dangote Cement’s Shares Plummet

Share
Dangote Refinery Maybe Taken Over by Nigerian Government Over Crisis - Report
Aliko Dangote
Share

 

The Nigerian stock market experienced a significant downturn on Friday, with Dangote Cement’s shares leading the decline. The company’s stock price fell by 9.99%, resulting in a N1.11 trillion loss in market capitalization.

The Nigerian Exchange (NGX) All-Share Index dropped by 1.95% to close at 98,201.49 points, down from 100,156.96 points on Thursday. The market capitalization of listed equities also declined by N1.107 trillion or 1.95% to N55.605 trillion.

The trading week showed a decline in market performance, with the NGX reporting a drop of 2.36% between Monday and Friday. The year-to-date return also declined to 31.33%.

Oando Plc led the gainers’ table with a 10% increase, followed by FCMB Group, Wapic Insurance, Conhall Plc, and Nahco. On the other hand, Eterna Plc topped the losers’ chart, dropping by 10%, followed by Dangote Cement, Daar Communications, Mecure, and Deap Capital.

The volume of trades decreased by 236.0 million, representing a 17.62% decline, with investors trading 1.103 billion shares valued at N21.596 billion in 9098 deals.

 

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
World Bank Blacklists 18 Nigerian Firms, Individuals for Corrupt Practices | Daily Report Nigeria
Business

World Bank Clarifies $10.50m Funding to CBN as Grant, Not Loan

The World Bank has clarified that the $10.50 million funding for the...

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar | Daily Report Nigeria
Business

Nigeria Spends N11.8bn on Apple Imports as Fruit Prices Soar

Nigeria imported N11.8 billion worth of apples in the last quarter of...

CBN Speaks on Plans to Revoke Licenses of Fidelity, Wema, Polaris, Unity Banks
Business

CBN Injects $197.71 Million into FX Market to Boost Liquidity

CBN has injected $197.71 million into the foreign exchange market to ensure...

Nigeria’s Public Debt Soars to N144.67 Trillion in 2024 | Daily Report Nigeria
Business

Nigeria’s Public Debt Soars to N144.67 Trillion in 2024

Nigeria’s total public debt hits N144.67 trillion ($94.23 billion) as of December...