Three listed cement companies on the floor of the Nigerian Exchange Group Plc (NGX) recorded a combined gain of about N1.109 trillion at the close of the financial year 2022.
This was contained in the trading statistical report of these companies which include Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc tracked by Nairametrics.
Positive performance: Despite the build-up to the 2023 general elections and interest rate hikes, shares of these cement firms continued to enjoy positive sentiment as investors take a position on the stocks for future capital gains.
Market analysts had advised investors that rather than avoid the market following the sell-offs, there’s still money to be made if investors are in the right sectors.
That means looking at some of the sectors that have been the best-performing despite that the economy is struggling, according to them, industrial goods sectors which included the cement sectors are good to buy and hold for future capital gains.
Breakdown of performances: Checks by Nairametrics revealed that BUA Cement Plc, one of the major Cement manufacturers listed on the industrial goods sub-sector of the Nigerian Exchange Group Plc (NGX) led with a gain of about N1.039 trillion during the three days trading sessions.
The cement stock grew by 45.79% to close at N97.75 per share and N3.310 trillion in market capitalization during the review period from N67.05 and market capitalization of N2.270 trillion it opened for trading on January, hence has earned a gain of N1.039 trillion.
Dangote Cement Plc is also listed in the industrial goods sub-sector of the NGX followed by a gain of about N68 billion during the period.
Its stock price grew by 1.56% to N261 per share and N4.447 trillion in market capitalization as against N251 and N4.379 trillion in market capitalisation which was the opening figure before trading activities commenced on January 4, 2022.
Lafarge Africa trailed with a marginal 0.2% growth to N24.00 per share and N386.587 billion in market capitalisation from N23.95 and N385.781 billion in market capitalisation at the beginning of the trading year.
