Dangote Cement Plc has experienced a significant decline in market value on the Nigerian Exchange (NGX), losing an additional 10% due to persistent sell pressure. Over two days, the company’s market value has dropped by approximately ₦1.55 trillion.
Market data revealed that the cement giant’s stock fell for the second consecutive trading day as investors continued to reduce their holdings. By Wednesday, the company’s 17.04 billion outstanding shares were valued at ₦6.61 trillion.
Dangote Cement’s share price dropped to ₦387.90 as 987,118 shares were traded on Wednesday. The stock had started the week at ₦478.80, falling 10% on Tuesday to ₦431 before recording another decline midweek. At its current price, the company’s shares are trading at a discount of more than 49% from their 52-week high.
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