June 13, 2024

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Stock Market Closes Positive

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CEM REPORT | Market capitalisation of stocks worth over one trillion (SWOOTs) shoots to 1.39 percent at the close of trading week.

The combined stocks appreciated to N18.42 trillion from previous week N18.16 trillion gaining N253.24 billion with Dangote Cement and MTNN Plc increasing 2.38 percent and 3.40 percent respectively.

Other stocks in this classification are: Airtel Africa, Bua Cement, Nestlé and recently listed Bua Foods.


The breakdown are as follows;

MTNN Plc’s maintained its steady rise to close the week trading at N213.00 per share indicating a 3.40 percent increase shooting it’s market capitalisation to N4.35 trillion.

The telecom giant is the third highest ranked in value on the Nigerian Exchange Limited (NGX), with 22.90 percent growth in revenue for 2021 financial year and a profit after tax of 45.53 percent resulting to N298.65 billion from N205.21 billion in 2020 financial year.

DANGOTE CEMENT Plc’s share closed the week at N280.00 per share, growing 2.38 percent. Its market capitalisation stood at N4.77 trillion (which is the total market capitalisation of its competitors).

The company’s 2021 financial year report, indicates a 32 percent increase in profit, N364 billion from the previous year. Proposing N20.00 per share in dividend, a 25 percent increase from N16.00 in 2020.

Dangote Cement Plc is currently the most-valued company quoted on The Exchange as it makes up roughly 26% of the total market capitalization of all stocks worth over one trillion.

BUA CEMENT Plc’s share price pushed up by 0.8 percent to close at N70.75 from N69.95. Its market capitalization stands at N2.40 trillion at the end of the trading week.

The company’s financial report for Q4 of 2021 revealed a revenue increase of N70.43 billion, reflecting a growth of 33.15% from N52.89 billion in 2020. Net income similarly increased by N7.06 billion – 37.60% from N18.78 billion to N25.84 billion recorded in the corresponding period of 2020.

BUA FOODS Plc,, newly listed in The Exchange, kept it stock price unchanged closing at N59.50, and market capitalization value at N1.07 trillion at the close of the trading week.

BUA Foods financial report for the fourth quarter (Q4) reveals  36.37% – N20.20 billion, growth in Profit after Tax from N14.81 billion in the corresponding period of 2020.

NESTLÉ Nigeria Plc’s share price also remained unchanged to closimg the week at N1,395.00 per share, with a market capitalization of N1.11 trillion amidst sell-offs and buy-interests during the trading week.

It’s financial year report 2021 revealed a profit of 2 percent increase of N40 billion from the previous year and a revenue growth of 23 percent. Dividend pay of N25.50 per share..

Nestle Nigeria Plc is one of two Fast-Moving Consumer Goods companies under the NGX Consumer goods Index worth over a trillion.

AIRTEL AFRICA Plc’s share price remained unshaken at N1260.40 per share at the end of the trading week, with a market capitalization of N4.74 trillion.

Airtel Africa Plc ended the week as the second-most capitalized company on the exchange, vying for the position with Dangote Cement Plc.

It’s 9-month Unaudited Financial Statement for 2021, revealed a 22.5% – $3.49 billion growth in revenue from $2.85 billion. It net worth also experienced 97.3 percent appreciation to  $514 million from $261 million  in the corresponding period of  2020.

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The week-on-week growth of The Nigerian Exchange Limited (NGX) remained positive as All Share Index (ASI) stepped up by 1.89 percent closing at 47,510.38.

The Tier-1 banks comprising; First Bank Nigeria Holding (FBNH) Plc, United Bank for Africa (UBA) Plc, GT Holding Company (GTCO) Plc, Access Bank Nigeria Plc and Zenith Bank Plc, undoubtedly influenced the ASI growth as the NGX banking grew by 5.59% from 415.56 to close at 438.78 points.

The Tiee-1 banks make up 70 percent of the Nigeria Stock Exchange Banking sector index.

The top five bank combined market capitalisation grew by 5.24% to close at N2.57 trillion at day four of trading with Zenith Bank Plc in the lead.


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