Dangote outshines BUA, Lafarge, gains N6.250trn in market value

Dangote Cement, BUA Cement and Lafarge Africa recorded a combined gain of N7.921 trillion at the close of the first quarter of 2024 according to the trading statistics of the three companies listed on the Nigerian Exchange Group Plc (NGX).

According to the statistics, Dangote 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 N6.250 trillion during the first quarter of the year.

The cement stock grew by 114.66 per cent to close at N686.70 per share and N11.701 trillion in market capitalization during the review period from N319.90 and market capitalization of N5.451 trillion it opened for trading on January, hence has earned a gain of N6.250 trillion.

BUA Cement Plc also listed in the industrial goods sub-sector of the NGX followed with a gain of about N1.565 trillion during the period.

Its stock price grew by 47.6 per cent to N143.20 per share and N4.849 trillion in market capitalization as against N97.00 and N3.284a trillion in market capitalisation which was the opening figure at the beginning of trading activities in January 2024.

Lafarge Africa trailed with a marginal 20.79 per cent growth to N38.05 per share and N612.901 billion in market capitalisation from N31.50 and N507.395 billion in market capitalisation at the beginning of the trading year.

Reacting to the statistics, Mr. David Adonri, Executive Vice Chairman, Hicap Securities Limited said that although in times of escalating interest rates, the financial assets tend to migrate from equities to the debt market or fixed-income securities, however, investors also take a position on stocks that are elastic in demand.