Dangote Sugar Sheds N11.5 Billion in Market Value, Drag Equities Market into Red Zone

Dangote Sugar Plc, one of Nigeria’s most viable listed companies, dipped by 5.28 percent on Wednesday to drag the Nigerian stock market back into the red zone.

Activity at the Exchange was surprisingly low as investors traded 230,645,883 shares worth N3.493 billion in 4,377 deals on Wednesday, against 421,820,943 shares valued at N5.155 billion that exchanged hands in 5,992 transactions on Tuesday.

The market value of all listed stocks depreciated by N22 billion to N25.442 trillion with N11.5 billion of the total decline coming from Dangote Sugar alone. The market value of Dangote Sugar Plc dipped by 5.28% or N11.539 billion to N207.104 billion, down from N218.644 billion it closed on Tuesday.

As expected, the NGX All-Share index shed 0.08% to 47,207.27 index points.

The banking sector gauge also declined by 35bps on Ecobank, Unity Bank, Sterling Bank and United Bank for Africa’s depreciation. Wema Bank and Jaiz Bank closed in the green.

The consumer goods sector lost 58bps on the back of Dangote Sugar, Intbrew and Flour Mill declines despite PZ, Champion and NB posting gains.

Again, the industrial sector shed 2bps while the only gainer for the day was the Oil and Gas sector. The sector gained 3bps.

The year-to-date gain declined to 10.51% even as 26 stocks gained points, against 16 stocks that closed in the red. See the details of top gainers and losers below.

Top Gainers

Top Losers

Top Trades