A major selloff on Nigeria’s most capitalised quoted company, Dangote Cement Plc, coloured the market situation negative on Monday, leaving investors with net capital loss of N149 billion.
Dangote Cement, which accounts for nearly one-third of the equities’ market capitalisation, suffered a loss of N192.4 billion after it dropped by N11.29 per share or 7.0 per cent to close at N149.26. The steep decline in the share price of Dangote Cement countered gains by many highly capitalised stocks.
Aggregate market value of all quoted equities at the Nigerian Stock Exchange (NSE) declined from its opening value of N8.656 trillion to close at N8.507 trillion, representing a net loss of N149 billion. The All Share Index (ASI), the benchmark index for the Exchange, declined by 1.72 per cent from its opening index of 25,012.08 points to close at 24,581.99 points.

Details: https://www.ripplesnigeria.com/nse-live-dangote-cement-drags-equities-n149bn-loss/

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