BUSINESS

Dangote Cement Share Ranks Amongst Gainers, Takes Market Capitalization To N4.69Trillion

 

At the end of yesterday’s trading session, Dangote Cement Plc share price ranked amongst gainers, appreciating by 6.18% and closing at N275.00 per share, taking the market capitalization from N4.41 trillion to N4.69 trillion.

This comes after the company announced the commencement of the second tranche of shares buyback programme to take off on Wednesday, January 19, 2022, and should last for two days to be completed on Thursday, January 20, 2022.

Following this disclosure, there was an impressive rally in Dangote Cement Plc shares as shareholders and investors position their investments to benefit from the programme.

NewsBeatng reports that the cement company recorded a gain in share prices which can be attributed to investors’ positive sentiment which triggered buy-interests in the shares of the company supporting a gain of N272.65 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the cement maker grew from N259.00 per share at the start of the trading day to N275.00 per share, the highest price traded at the close of the market, to represent a gain of 6.18% which in monetary terms is N16.00.

The growth witnessed in the shares of Dangote Cement influenced the company’s market capitalization positively to move from N4.41 trillion to N4.69 trillion at the end of the trading activity, taking the gain to N272.65 billion.

The shares of Dangote Cement Plc have appreciated by 7.00% from year-to-date, starting the year at N257.00 and currently traded at N275.00. However, the shares of the company have returned about 38.82% gains for investors who bought them at their 52-week low trading price of N198.10 per share.

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During the day’s trading hours, 2,134,365 ordinary shares of Dangote Cement Plc worth about N588.62 million, were exchanged in 294 executed deals.

At the end of the day’s trading activities, the NGX All-Share Index and market capitalization appreciated by 1.71% from the previous trading day, to close at 44,608.82 index points and N24.03 trillion respectively.

The NGX Industrial Goods Index appreciated by 3.06% to close the day at 2106.73 points from 2044.21 index points.

 

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