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    Dangote Cement Slumps by 10% to N7.344 Trillion

    Julius AlagbeBy Updated:No Comments1 Min Read
    Dangote Cement Slumps by 10 to N7.344 Trillion

    Dangote Cement Slumps by 10% to N7.344 Trillion

    Dangote Cement Plc lost about 10% of its market value in the equities market as investors dumped the cement stock ahead of its fourth quarter of 2024 earnings release.

    The company share price nosedived by 9.98% on the day to settle at N431 as more than 170,000 shares of the cement stock exchange hands in the local bourse on Tuesday.

    Hence, the market value of the company’s 17.040 billion shares outstanding fell to N7.344 trillion, losing its position as the most valuable brand on the Nigerian Exchange to Airtel Africa and BUA Foods Plc.

    Dangote Cement plc share price rarely moved after the group share buyback programme that stemmed volatility with Dangote Industries Limited controlling significant shareholding. 

    At the current market price, Dangote Cement Plc is now trading at about 44% discount to its 52-week high on the Nigerian Exchange. Still, some analysts think the price slump has created another entry point for alpha seekers. #Dangote Cement Slumps by 10% to N7.344 Trillion.

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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