Dangote Cement Supplant MTN As Largest Traded Company On Stock Exchange

Must Read

Spectranet and Nokia to provide 100+ Mbps ultra broadband services with FTTH to home and business users in Nigeria

Nokia GPON solution helps Spectranet better serve its customers by adding FTTH services to its current portfolio of...

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

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

Midea Showrooms And Stores In Nigeria

If you’ve been wondering where Midea showroom and stores are in Nigeria below is a list of Showrooms and...
- Advertisement -
- Advertisement -

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.

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.

Read:  NSE Opens Registration for 5th Corporate Challenge to Fight Cancer


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.

This represents a gain of N135 billion.

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

Read:  NSE Opens Registration for 5th Corporate Challenge to Fight Cancer

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.

Read:  Dangote $300m Congo Cement Plant to Commence Operations

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 -

Subscribe to BrandSpur Ng

Subscribe for latest updates. Signup to best of brands and business news, informed analysis and opinions among others that can propel you, your business or brand to greater heights.


Please enter your comment!
Please enter your name here

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

Latest News

Stanbic IBTC Provides Succour For Limbless Children Through Together4ALimb Initiative

Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has continued its quest to provide succour for children...

The One Factor Driving Today’s Oil Markets – Report

OilPrice Intelligence Report Oil continues to seesaw on every rumour (positive or negative) regarding the U.S.-China trade war. As a result, a lot of attention...

Stanbic IBTC Wins 5 Awards At The 2019 FMDQ Gold Awards

Stanbic IBTC Holdings PLC, a member of the Standard Bank Group, has won five awards at the 2019 edition of the FMDQ Gold Awards...

Traveller Spend in Africa Could Increase by 27%, Sabre Research Reveals

Consumers would be more willing to travel if they were able to move freely within the continent, and if travel pain-points were addressed PORT LOUIS,...

More Articles Like This