Dangote Sugar lost 11billion naira in stock value, few days after trading words with BUA foods on perceived sugar scarcity.
Recall, that intel Region reported that BUA foods and Dangote sugar trade words over perceived sugar scarcity
At the end of yesterday’s trading session, Dangote Sugar Refinery Plc share price depreciated by 5.28% to close at N17.05 per share, taking the market capitalization from N218.64 billion to N207.10 billion.
Dangote Sugar Plc recorded a decline in share prices which can be attributed to investors’ negative sentiment which triggered sell-offs in the shares of the company reflecting a loss of N11.54 billion in market capitalization at the close of trading activities on Nigeria’s stock exchange.
The shares of the quoted FMCG company depreciated from N18.00 per share at the start of the trading day to N17.05 per share, the lowest price traded at the close of the market, to represent a decline of 5.28% which in monetary terms is N0.95.
In comparison, the shares of Flourmills Plc depreciated by 1.49% to close at N33.00 while BUA Foods Plc closed flat at N61.40 at the end of today’s trading session.
BUA foods have also hit a market capitalization of 1trillion naira since its admission on 5th of January 2022