Profit-taking in Wapco Plc shares weigh down market value by N8.05 billion

Sell-pressure in Wapco (LaFarge) Plc shares today led to a loss of N8.05 billion in market value as negative sentiments around the shares of the cement maker triggered a 2.27% decline in share price at the close of trading activities on the Nigerian Exchange.

At the close of the market today, data revealed that the shares of WAPCO declined from N22.00 per share at the start of trading day, to N21.50 per share at the close of the market, reflecting a loss of 2.27%.

This saw the market capitalization of the leading cement maker depreciate from N354.37 billion to N346.32 billion at the close of trading activities today, putting the total market value loss at N8.05 billion.

At the current price, the shares of Wapco Plc are currently trading 31.75% lower than their 52-week high of N31.50 per share. However, the shares of the company have returned about 65.38% gains for investors who bought them at their 52-week low trading price of N13.00 per share.

Year-to-date, however, Wapco share price has appreciated by 2.14%.

During today’s trading hours, 10,232,918 ordinary shares of Wapco Plc worth about N220.20 million, were exchanged in 196 executed deals.

In comparison, the shares of Dangote Cement Plc and BUA Cement Plc closed flat at N245.00 and N68.00 per share, respectively, at the end of today’s trading session.

What you should know

At the close of trading activities today, the NGX All-Share Index and Market capitalization appreciated by 0.08% to close at 38,943.87 index points and N20.29 trillion respectively.

The NGX Industrial Goods Index appreciated by 0.53% to close the day at 1,207.68 index points.