WAPCO Plc loses over N2 billion in bearish market

At the end of today’s trading session, WAPCO Plc share price depreciated by 0.60% to close at N24.85 per share, taking the market capitalization from N402.69 billion to N400.28 billion.

WAPCO Plc, today recorded a loss in share prices which can be attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company supporting a loss of N2.42 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.

The shares of the quoted cement company declined from N25.00 per share at the start of the trading day to N24.85 per share, the lowest price traded at the close of the market, to represent a loss of 0.60% which in monetary terms is N0.15.

Stock performance summary

The sell pressure witnessed in the shares of WAPCO negatively influenced the company’s market capitalization from N402.69 billion to N400.28 billion at the end of today’s trading activities, taking the loss to N2.42 billion.

The shares of WAPCO Plc have gained 18.05% from year-to-date, starting the year at N21.05 and currently traded at N24.85. However, the shares of the company have returned about 27.44% gains for investors who bought them at their 52-week low trading price of N19.50 per share.

During today’s trading hours, 3,363,479 ordinary shares of WAPCO Plc worth about N83.68 million, were exchanged in 91 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.

What you should know

At the end of today’s trading activities, the NGX All-Share Index and market capitalization depreciated by 0.05% from the previous trading day, to close at 43,248.05 index points and N22.57 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.