The two biggest capitalised equities on the Nigerian Stock Exchange (NSE) Dangote Cement Plc and BUA Cement Group combinely shed N329.350 billion in one day trading on the Exchange.
The market capitalisation of both BUA Cement and Dangote Cement declined by 7.22 and 3.51 per cent respectively by the close of business on Friday.
Finding by InsideBusiness shows that BUA Cement’s market capitalisation fell from N2.675 trillion to N2.482 trillion, dropping N193.026 billion, representing 7.22 per cent depreciation.
The industrial goods giant also had a downward slide in value of its share price, declining from N79 per share to N73.3 per share, while it’s outstanding shares remained at 33,864,354,060.
Further checks revealed that BUA Cement had consistently maintained its share price at N79 per share for weeks, until Friday’s dip.
In the same vein, Dangote Cement Plc took a new turn following its massive gain yesterday on the stock market as its market capitalisation lost N136.324 billion, indicating a 3. 51 per cent drop on Friday.
The company fell from a market share of N3.885 trillion down to
N3.748 trillion, while it’s share price also went downward from N228 per share to N220 per share. It’s outstanding shares stand at 17,040,507,405.
On Thursday, the company gained N255.607 billion when it’s share price appreciated from N213 per share to N228 per share, representing a 7.04 per cent leap.
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