Tuesday, December 7

Lafarge shares decline as market value depreciates by N11.28 billion


At the end of today’s trading session, Lafarge (Wapco) Plc share price depreciated by 2.55% to close at N26.80 per share, taking the market capitalization from N442.96 billion to N431.69 billion.

The cement producer recorded a loss in share price which can be attributed to investors’ negative sentiment which triggered sell-pressures in the shares of the company supporting a loss of N11.28 billion in market capitalization at the close of trading activities on the Nigerian Stock Exchange.

The shares of the quoted company declined from N27.50 per share at the start of the trading day, to N26.80 per share, to represent a loss of 2.55% which in monetary terms is N0.70.

Stock performance summary

The sell-pressure witnessed in the shares of WAPCO negatively influenced the company’s market capitalization from N442.96 billion to N431.69 billion at the end of the day’s trading activities, taking the loss to N11.28 billion.

The shares of WAPCO have appreciated by 27.32% from year-to-date, starting the year at N21.05 and currently traded at N26.80. However, the shares of the company have returned about 45.26% gains for investors who bought them at their 52-week low trading price of N18.45 per share.

During trading hours, 7,411,422 ordinary shares of WAPCO Plc worth about N199.59 million, were exchanged in 209 executed deals.

In comparison, the shares of Dangote Cement Plc closed flat at N280.00, while BUA Cement Plc appreciated by 3.47% to close at N74.50 per share, at the end of the day’s trading session.

What you should know

This comes after the company posted impressive earnings growth in their financial results for Q3 2021. The result revealed that both revenue and net income appreciated by 25% and 148%, respectively.

At the end of today’s trading activities, the NGX All-Share Index and market capitalization appreciated by 0.09% from the previous trading day, to close at 42,013.39 index points and N21.93 trillion respectively.

The NGX Industrial Goods Index appreciated by 0.11% to close the day at 2,179.82 index points.



nairametrics.com