At the end of yesterday’s trading session, Wapco (LaFarge) Plc share price depreciated by 1.07% to close at N27.70 per share, taking the market capitalization to N446.19 billion.
The decline in share prices which was recorded by the cement manufacturing company can be attributed to investors’ negative sentiment which triggered sell-offs plunging the company’s value down by 107 basis points.
Hence, the sell-pressures in the shares of the company resulted in a loss of N4.83 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the company decreased from N28.00 per share at the start of the trading day to N27.70 per share, the lowest price traded at the close of the market, to represent a decline of 1.07% which in monetary terms is N0.30.
Wapco Plc Loses Over N4 Billion In Market Value, As Share Price Drops To N27.70
The profit-taking witnessed in the shares of Wapco Plc negatively influenced the company’s market capitalization from N451.02 billion to N446.19 billion at the end of the day’s trading activities, taking the loss to N4.83 billion.
The shares of the company have gained 15.66% from year-to-date, starting the year at N23.95 and currently traded at N27.70. The company’s shares are currently trading 17.80% lower than its 52-week high at N33.70.
However, the shares of the company have returned about 32.54% gains for investors who bought them at their 52-week low trading price of N20.90 per share.
During the day’s trading hours, 10,485,668 ordinary shares of Wapco Plc worth about N290.37 million, were exchanged in 94 executed deals.
In comparison, the shares of Dangote Cement Plc and Bua Cement Plc remained unchanged to close at N277.00 and N74.25.