Dangote Cement Surpasses N10 Trillion Capitalisation As Market Rallies

Dangote Cement Plc achieved an all-time high equities capitalization of N10.098 trillion on Monday, contributing to the market’s positive close on January 22.

The stock price of Dangote Cement has experienced an 85.2 percent increase this year.

This surge follows billionaire investor Femi Otedola’s significant acquisition of shares in Dangote Cement, stressing the company’s potential.

As of the close of trading on Monday, Dangote Cement has 17,040,507,405 outstanding shares, each valued at N592.60.

The stock rose from the preceding day’s low of N538.80, marking a 9.99 percent increase. Other notable performers include Eterna, which rose by 9.80 percent, and Cutix, which increased by 8.89 percent.

The overall stock market showed a 1.30 percent increase, resulting in a year-to-date return of 28.08 percent.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) and Market Capitalization rose from 94,538.12 points and N51.735 trillion to 95,768.12 points and N52.408 trillion, respectively.

In 15,757 deals, investors exchanged 721,813,844 shares worth N14.407 billion.

Dangote Cement’s current capitalization highlights its position as a significant player in the market, and the positive momentum reflects the confidence of investors in the company’s growth prospects.

Last 7 Days Trades:

Jan-22-2024: Price (Naira) – 592.6, Volume – 2,019,857.00

Jan-19-2024: Price (Naira) – 538.8, Volume – 1,290,275.00

Jan-18-2024: Price (Naira) – 489.9, Volume – 1,456,280.00

Jan-17-2024: Price (Naira) – 452.5, Volume – 1,217,768.00

Jan-16-2024:** Price (Naira) – 411.9, Volume – 1,670,008.00

Jan-15-2024: Price (Naira) – 375, Volume – 318,537.00

Jan-12-2024: Price (Naira) – 350, Volume – 272,692.00
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