Dangote Cement Supplant MTN As Largest Traded Company On Stock Exchange

Must Read

2020 Brand Africa 100: These are the 10 most admired brands in Africa

NIKE RETAINS #1 IN AFRICA FOR THIRD YEAR IN A ROW AFRICAN BRANDS DROP BY OVER 60% IN...

List of Guaranty Trust Bank Sort Codes & Branches (with addresses) in Nigeria

The sort code is a number that usually identifies both the bank and the branch where an account is...

Top 10 Most Expensive Universities In Nigeria

For many Nigerians, high-quality higher education is a luxury. There are many private universities who are known not only...
Dangote Cement Supplant MTN As Largest Traded Company On Stock ExchangeDangote Cement Supplant MTN As Largest Traded Company On Stock Exchange

It will go down in records that MTN Nigeria Communications used two days as the largest company by market capitalization on the Nigerian Stock Exchange (NSE).

At the close of trading on Thursday, MTN’s market capitalization was N2.80 trillion while Dangote Cement’s market capitalization was N2.84 trillion.

Shares belonging to both companies were among the top gainers on the bourse.

MTN’s shares gained N2 to close at N138 while Dangote shares recorded an increase of N1 to close at N167 per share.

- Advertisement -

In May when MTN Nigeria listed on the NSE, the company’s market capitalisation was N1.3 trillion leaving N782 billion margin between Dangote Cement, which has been the largest company on the market for years.

MINISTERIAL INAUGURATION IS A GOOD OMEN FOR MARKETS

For the first time in August, the stock exchange closed in the green for two consecutive days.

At the close of trading on Thursday, the market recorded 1.1% to close at N13.44 trillion as against the N13.30 recorded on Wednesday.

- Advertisement -

This represents a gain of N135 billion.

The gain can be attributed to the inauguration of ministers by President Muhammadu Buhari on Wednesday.

Read Also:  Gulder reinforces the “Ultimate” payoff in new TV show for men called GUY CODE

The market has been on a bearish note since the beginning of the year partly because of the general elections that held in February and March.

Market capitalisation stood at N11.58 trillion at the beginning of the year and reached its lowest point on May 15 when it dipped to N10.62 trillion.

- Advertisement -

It, however, rebounded by July 23 to stand at N13.71 trillion. MTN Nigeria and Airtel’s listing on the exchange also lifted the market.

In August, the market has recorded a positive close four times before the ministerial inauguration ceremony.

- Advertisement -
Dangote Cement Supplant MTN As Largest Traded Company On Stock ExchangeDangote Cement Supplant MTN As Largest Traded Company On Stock Exchange

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Dangote Cement Supplant MTN As Largest Traded Company On Stock ExchangeDangote Cement Supplant MTN As Largest Traded Company On Stock Exchange

Latest News

Southco Releases New Display Mount Series Designed for Static Applications

HONG KONG, CHINA - Media OutReach - 28 May 2020 - Southco Asia Ltd., a subsidiary of Southco Inc., a leading global provider of...

GEODIS Supports Rising Medical Company LabMed To Supply Health Protection Goods to Europe And North America

SINGAPORE - Media OutReach - 28 May 2020 - The Singapore based enterprise LabMed has entrusted global logistics company GEODIS to support the company's growing activity in...

AI and Data Platform, SENTIENT.IO closed Series A Round led by Japanese digital media enterprises

SINGAPORE - Media OutReach - 27 May 2020 - Sentient.io, AI (artificial intelligence) and Data Platform backed by the national technology research institution in Singapore, A*STAR and...

Trend Micro Research Finds Trust Lacking Within the Cybercriminal Underground

Report details changing tactics and global demand for new malicious services like Deepfake ransomware and AI bots HONG KONG, CHINA - Media OutReach - 27 May 2020 - Trend...

Nigeria: Transport fare Within City Soared By 8.21% in April – NBS

In its Transport fare Watch report for April 2020 on Wednesday, the National Bureau of Statistics (NBS) said the average fare paid by commuters...
- Advertisement -
BrandsPur Weekly Cartoons
- Advertisement -Dangote Cement Supplant MTN As Largest Traded Company On Stock ExchangeDangote Cement Supplant MTN As Largest Traded Company On Stock Exchange