Bellwether stock Dangote Cement fell by the most allowable in a day to price its lowest in four years on Tuesday, dragging the market 0.71% lower in the day.
The cement maker, which accounts for about 21% of the entire market capitalisation, fell by 10% to close at N137.7 a unit, a level last seen in February 2016.
The decline in Dangote Cement offset gains in Access Bank (10%), United Capital (10%), Cadbury (9.62%), FCMB (9.66%), Union Bank and Wema Bank (9.09%), to drag the market’s year-to-date return to -16.02%.
