Cement makers, Dangote Cement Plc and BUA Cement Plc have resumed the year on a negative note amid positive market rally.
The decline recorded in the share price of both companies has weighed down the Industrial Index, which tracks the daily and weekly performance of quoted Industrial companies, depreciating by 2.41%, from 2067.58 points the previous day, to 2017.78 points, at the end of the trading session.
Two of the major quoted cement companies, Dangote Cement Plc and BUA Cement Plc, depreciated by 2.72% and 2.71% respectively.
Stock performance summary
Dangote Cement Plc
Dangote Cement Plc share price declined from N257.00 to N250.00, reflecting a decrease of 2.72% at the end of the day’s trading session.
The decrease in share price took the market capitalization down from N4.38 trillion to N4.26 trillion supporting a loss of N119 billion in market capitalization at the close of trading activities on the stock exchange.
The shares of the most capitalized company on The Exchange has declined by 2.72% from year-to-date, starting the year at N257.00 and currently traded at N250.00. However, the shares of the company have returned about 26.20% gains for investors who bought them at their 52-week low trading price of N198.10 per share.
BUA Cement Plc
BUA Cement Plc share price depreciated from N71.95 to N70.00, reflecting a decrease of 2.71% at the end of the day’s trading session.
The decrease in share prices of the cement producer took the market capitalization down from N2.44 trillion to N2.37 trillion bringing the decline to N66.04 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.
The shares of BUA Cement Plc have advanced by 4.40% from year-to-date, starting the year at N67.05 and currently traded at N70.00. However, the shares of the company have returned about 14.38% gains for investors who bought them at their 52-week low trading price of N61.20 per share.
What you should know
At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 1.00% from the previous trading day, to close at 43,476.75 index points and N23.43 trillion respectively.