Nigerian Equities Market Starts On Bearish Note As NGX-AsI Dips 2.53%, SWOOTs Capitalization Up N156Bn

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2 years ago

The Nigerian equities market started off the week on a bearish note as the NGX-ASI dipped by 2.53% to settle at 46,365.95pts.

In today’s trade, market breadth index was positive with 14 gainers against 5 losers.

This is even as the combined market capitalization of stocks worth over one trillion (SWOOTs) appreciated by 0.83% to close at N18.92 trillion from N18.76 trillion the previous week, reflecting a profit of N155.78 billion.

The stocks included in this classification are Airtel Africa, Bua Cement, Dangote Cement, Bua foods and MTNN Plc.

However, today’s performance was negative as the losses recorded in AIRTELAFRI (-10.00%), SOVRENINS (-7.14%), AIICO (-7.02%), DANGSUGAR (-2.80%) and FIDSON (-2.51%) offset the gains printed in PZ (+9.52%), UPL (+9.33%), COURTVILLE (+4.35%), CUTIX (+3.50%) and MANSARD (+2.86%

GTCO, with positive 1.12 percent was the most actively traded stock with about 33 million units of shares worth about N610 million.

On the SWOOTs stock Performance, Bua Cement Plc – N56.60.
The company’s share price appreciated by 8.85% at the end of the trading week while its market cap stood at N1.92 trillion from N1.76 trillion losing a total of N155.78 billion.

The company’s H1 2022 financial report, according to Nairametrics revealed revenue of N188.56 billion, reflecting a growth of 51.72% from N124.28 billion in 2021.

Similarly, profit after tax increased by N17.97 billion, reflecting a 41% increase from N43.40 billion recorded in the corresponding period of 2021, to N61.36 billion in the current period.

MTNN Plc – N199.00
MTNN Plc’s share price, at the end of the trading week, appreciated by 0.40% to close at N199.00 per share.

Its market capitalization closed at N4.05 trillion at the end of the trading sessions of the week.

As a competitor of Airtel Nig Plc, MTN’s total market capitalization is N2.71 trillion lower than Airtel Africa’s current market value.

MTNN Plc, according to the online platform is the third-most capitalized company on the Nigerian Exchange Limited (NGX).

The company released its H1 2022 financial result, reflecting a 20.07% growth in revenue for the period, while profit after tax grew significantly by 28.06% from N141.82 billion in H1 2021 to N181.62 billion in the current period.

Airtel Africa Plc – N1,800.00
Airtel Africa Plc’s share price was down by 10% to stand at N1800.00 from N2,000.00 at the end of the trading week. Its market capitalization also fell from N7.52 trillion to a valued N6.76 trillion this 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, the third-most capitalized stock, far behind.

The telecom giant released its Unaudited Financial Statement for the quarter that ended June 2022 revealing a 13% growth in revenue from $1.11 billion in 2021 to $1.26 billion in the current period.

The profit after tax for the period also appreciated significantly by 25.3% from $142 million in 2020 to $178 million.

Dangote Cement Plc – N245.00
Dangote Cement Plc’s share price was unchanged at N245.00 at the end of the trading week.

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 N4.17 trillion as at 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 the stocks worth over one trillion.
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The H1 2022 financial result revealed a profit of N172.10 billion, representing a 33.83% increase Y-o-Y. Meanwhile, revenue for the period stood at N808.04 billion, a 17.01% increase from the corresponding period of 2021.

BUA Foods Plc– 58.3
BUA Foods Plc share price remained unchanged at the end of the trading week. Its market capitalization also remained at N1.05 trillion. BUA Food posted a net profit after tax of N39 billion in H1 2022, a 13.7% increase from the N34.56 billion in H1 2022. Turnover for the period was N168.85 billion from N151.73 the same period last year.