Dangote Cement Plunges 10% to N1,341 as Recent Rally Reverses

Dangote Cement Plc plunged 10% on Thursday to N1,341 per share because it reversed a part of a latest rally that had pushed the cement producer’s share value as excessive as N1,490.

The inventory misplaced N149 in a single buying and selling session from its earlier closing value of N1,490, making it one of many greatest decliners on the Nigerian Exchange on November 5, 2026.

The sharp decline adopted a powerful rally within the earlier week when Dangote Cement emerged because the best-performing inventory on the NGX.

During the week ended October 30, the corporate’s share value jumped 27.81% from N1,111 to N1,420, representing a rise of N309 per share.

The rally subsequently prolonged past N1,420, with Dangote Cement reaching N1,490 earlier than Thursday’s sharp reversal.

From N1,111 to N1,490, the inventory had appreciated by roughly 34.1%, including N379 per share earlier than the most recent selloff.

Thursday’s decline erased a good portion of these beneficial properties, pushing the share value N79, or 5.6%, beneath the N1,420 closing value recorded on the finish of final week.

However, at N1,341, Dangote Cement stays N230, or roughly 20.7%, above the N1,111 degree from which the latest rally began.

The reversal got here throughout a broader decline within the Nigerian equities market, with the NGX All-Share Index falling 1.98% to 249,710.59 from 254,762.81 within the earlier session.

Equities market capitalisation additionally dropped by roughly N3.28 trillion to N162.13 trillion from N165.42 trillion, highlighting the size of Thursday’s market-wide selloff.

The decline contrasts sharply with the earlier week’s efficiency when a 27.8% rally in Dangote Cement accompanied a 14.58% surge within the NGX Industrial Goods Index and helped elevate the broader market.

Thursday’s 10% drop due to this fact marks a major reversal for a inventory that had been one of many strongest contributors to the market’s latest advance.

Despite the decline, Dangote Cement has not erased its complete latest rally. The inventory stays greater than 20% above N1,111, which means additional value actions will decide how a lot of the earlier advance may be sustained following Thursday’s sharp correction.