The year has continued on a positive note for the Nigerian equities market as investors increase their buying pressure.
The NGX All-Share Index and Market Capitalization gained 2.52% to close last week at 52,512.48 and N28.602 trillion, respectively.
In the same vein, the market capitalisation of stocks worth over one trillion (SWOOTs) moved in the same direction, recording a gain due to the increase in share prices of BUA CEMENT, DANGOTE CEMENT and MTN.
The combined market capitalization of SWOOTs appreciated by 2.89%. This reflects a gain of N556.44 billion to close at N19.81 trillion from N19.25 trillion in the previous week. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, BUAFOODS and MTNN Plc.
Highlighted below are the detailed Performances of stocks worth over one trillion (SWOOTs) for last week.
Bua Cement Plc – N99.45
BUA Cement’s share price appreciated by 3.59% at the end of the trading week with a value of N99.45, compared to N96.00 at the end of last week while its market cap stood at N3.37 trillion from N3.25 trillion, gaining a total of N116.83 billion.
The company’s Q3 2022 financial report revealed revenue of N74 billion, reflecting a growth of 18.21% from N62.63 billion in 2021. Meanwhile, profit after tax dipped by N9.86 billion, reflecting a 44% decrease from N22.51 billion recorded in the corresponding period of 2021, to N12.65 billion in the current period.
MTNN Plc – N229.90
MTNN Plc’s share price appreciated by 6.93% to close at N229.90 from N215.00 at the end of the trading week. Similarly, the market cap grew to a record N4.68 trillion from N4.378 trillion, gaining N303 billion.
As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N1.48 trillion lower than Airtel Africa’s current market value.
MTNN Plc is the third-most capitalized company on the Nigerian Exchange (NGX). The company released its Q3 2022 financial result, reflecting a 21.9% growth in revenue to stand at N504.8 billion for the period, from N414.05 billion, while profit after tax grew by 11.4% from N78.48 billion in H1 2021 to N87.41 billion in the current period.
Dangote Cement Plc – N270.00
Dangote Cement Plc’s share price ended the week at N270.00 from N262.00 at the end of the last trading week to gain N136 billion.
The company, which is a competitor of Bua Cement Plc and Wapco Plc, and the most capitalized cement producer on the NGX, has a total Market capitalization of N4.60 trillion as of market close this week.
Dangote Cement Plc is currently the second most-valued company quoted on the exchange and makes up roughly 22% of the total market capitalization of all stocks worth over one trillion.
The Q3 2022 financial result revealed a profit of N40.50 billion, representing a 52.67% dip from the N86.6 billion Y-o-Y. Meanwhile, revenue for the period stood at N369.21 billion, an 11.3% increase from the corresponding period of 2021.
BUA Foods Plc – 74.50
BUA Foods Plc’s share price closed the week at N74.5, the same amount it closed last week. Similarly, the market cap remained unchanged at N1.34 trillion at the end of the trading week.
BUA Foods posted a net profit after tax of N68.76 billion in 9 months of 2022, a 17.2% increase from N58.7. Revenue for the period was N290 billion, from N241 billion in the same period last year.
Airtel Africa Plc – N1,550.00
Airtel Africa Plc’s share price remained unchanged at the end of the week to close at N1,550.00. Market capitalization also remained flat at N5.83 trillion at the end of the trading week.
Airtel Africa Plc ended the week as the most capitalized company on the exchange once again, leading the SWOOTs strongly, with MTNN, its competitor and third-most capitalized stock, far behind.
The telecom giant released its financial statement for half the year ended September 2022 revealing a profit after tax of $330 million, lower by 1.5% due to higher foreign exchange and derivative losses of $160 million.
Similarly, it reported strong revenue growth in constant currency was posted across all four reporting segments as Mobile Services revenue in Nigeria grew by 19.7%, in East Africa by 12.4% and in Francophone Africa by 12.1% (and across the group by 15.6%, with voice revenue up by 12.0% and data revenue up by 22.1%).
