NGX Market Cap Up N1.45trn on 98% Contribution by Seplat, Dangote Cement, 15 Others

As the stock market of the Nigerian Exchange Limited (NGX) appreciated by N1.45trillion in April, a total of 17 fundamental companies contributed about 98 per cent to market capitalisation in the month under review.

Analysis of trading data showed that the overall market capitalisation closed at N26.761 trillion in April 2022 from N25.312 trillion in March, representing an increase of N1.45 trillion.

The 17 companies, posted impressive corporate earnings in 2021 financial year and sustained the performance in their unaudited financial statements for first quarter ended March 31, 2022 to accumulatively gather N1.42 trillion in market capitalisation in April.

They are; Seplat Energy Plc, Dangote Cement Plc, Lafarge Africa Plc., Zenith Bank Plc , United Bank For Africa Plc, Guaranty Trust Holding Company Plc and Stanbic IBTC Holdings Plc

Among the top market capitalisation gainers in the month of April was Airtel Africa with a stock price gain of N125.60 or 9.96 per cent to contribute N472.02billion to market capitalisation, while Dangote Cement that appreciated by N18.90 or 6.9 per cent to close trading at N292.40 per share gained N322.07billion in market capitalisation.

The company, which is a competitor of BUA Cement Plc and Wapco Plc, has a total Market capitalization of N4.98 trillion as of April 2022.

Dangote Cement is the second most-valued company quoted on the exchange and makes up roughly 18.6per cent of the total market capitalization of all stocks.

The Q1 2022 financial result revealed a profit of N105.85 billion during the period, representing an 18per cent increase Y-o-Y. Dangote Cement’s revenue for the period stood at N413.18 billion, an increase of 24.20 per cent from the corresponding period of 2021.