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Stock Watch: Dangote Sugar Sheds 14% in Last Six Sessions

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By Dipo Olowookere

It has been observed that Dangote Sugar has depreciated by about 14 percent in the last six sessions on the floor of the Nigerian Stock Exchange (NSE).

This occurred after the equity initially rallied to a five-year high of N14.91k per share following a positive 2017 half year earnings.

The stock traded yesterday at the market at N12.80k per share and has returned 109.49 percent year-to-date (YTD).

On Thursday, August 17, 2017, the company is expected to pay interim dividend to its shareholders.

Yesterday, the Nigerian stock market lost 0.65 percent with the All-Share Index (ASI) shedding 247.64 points to settle at 37,950.96 points, and the market capitalisation weakening by N85.4 billion to finish at N13.1 trillion.

Additional information from Vetiva Research

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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