WAPCO leads top decliners losing over N39bn in one day

At the end of today’s trading session, WAPCO Plc led top losers as share price depreciated by 9.94% to close at N22.20 per share, taking the market capitalization from N397.06 billion to N357.59 billion.

WAPCO Plc, today recorded a loss in share price which can be attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company supporting a loss of N39.46 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted cement company declined from N24.65 per share at the start of the trading day to N22.20 per share, the lowest price traded at the close of the market, to represent a loss of 9.94% which in monetary terms is N2.45.

The sell pressure witnessed in the shares of WAPCO negatively influenced the company’s market capitalization from N397.06 billion to N357.59 billion at the end of today’s trading activities, taking the loss to N39.46 billion.

The shares of WAPCO Plc have gained 5.46% from year-to-date, starting the year at N21.05 and currently traded at N22.20.

However, the shares of the company have returned about 13.85% gains for investors who bought them at their 52-week low trading price of N19.50 per share.

During today’s trading hours, 7,463,977 ordinary shares of WAPCO Plc worth about N178.62 million, were exchanged in 97 executed deals.

In comparison, the shares of Dangote Cement Plc and BUA Cement Plc closed flat at N280.00 and N74.50 respectively at the end of today’s trading session.

At the end of today’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.38% from the previous trading day, to close at 42,008.60 index points and N21.92 trillion respectively.

The NGX Industrial Goods Index depreciated by 0.04% to close the day at 2,193.07 points from 2,193.85 index points.