In recent days, the Nigerian Stock Exchange market has been on the bullish side. Investors are making a significant profit.
In January 2024 alone, investors’ profit on the NGX was reported to be $8 billion, out of which Nigerian and Africa’s richest man, Aliko Dangote, profited almost $2 billion.
Not only that, the market, for the first time, witnessed more than three companies crossing the N1 trillion stock value, all within a short time frame from each other.
The Nigerian Exchange all-share index (ASI) has appreciated by 11 percent or 8,269 basis points year?to-date, placing it second in the world behind Argentina.
According to Bloomberg’s report, compared with a less than 2 percent advance for the MSCI Emerging Markets (EMEA) Index over the same period, the NGX rose almost 60 percent in the past year.
Banking stocks have driven gains, with the banking index up 16 percent this year and 138.09 percent over the past 12 months.
So far in 2024, Access Holdings Plc is up 21 percent, while Zenith Bank Plc is up 11.3 percent, and Guaranty Trust Holding Company is up by 14.3 percent.
Below are Nigerian companies listed on the NGX and with Stocks Worth Over One Trillion (SWOOT) in no particular order:
Dangote Cement
Dangote Cement, on Tuesday (January 17, 2024), recorded N7.01 trillion market capitalisation at the close of trading on the Nigerian stock exchange.
MTN Nigeria
MTN Nigeria has the highest telecom subscribers in Nigeria. Its market capitalization is over N6.04 trillion.
Airtel Africa
Airtel Africa is the company with the highest market valuation in Nigeria as of January 17, 2024, with a stock valuation of N7.51 trillion.
BUA Cement
BUA Cement, as of January 17, 2024, has a market capitalization of N3.81 trillion.
BUA Foods
BUA Foods has a market capitalization of N4.09 trillion after the company’s valuation increased by N613.80 billion within the review period.
GTCO
GTCO boasts a market capitalization of N1.36 trillion in market capitalisation following an increase of 16.91 percent between December 29, 2023, to January 16, 2024.
Zenith
Zenith Bank boasts of N1.49 trillion in market capitalisation.
Seplat Energy
Seplat is an oil and gas company with a market capitalisation of N1.35 trillion.
Access Holdings
Access Holdings, on January 9, 2024, surpassed the N1 trillion market capitalization mark.
FBN Holdings
On January 9, FBN Holdings closed trading with a N1.02 trillion market capitalisation, rising from N933.27 billion after its share value jumped from N26 (the previous day) to N28.6.
United Bank of Nigeria
United Bank for Africa (UBA), on January 8, also hit N1.02 trillion, from the N990.07 billion traded on January 5, 2023.
Transcorp Hotels
Transcorp Hotels Plc, the hospitality subsidiary of Transnational Corporation Plc is Nigeria’s first hospitality group to cross the N1 trillion market capitalization level.
On Wednesday, January 10, 2023, Transcorp Hotels Plc (TRANSCOHOT) gained 7.24% at the NGX to close at a share price of N100, thus taking the group to a market capitalization of N1.024 trillion.
Geregu Power Plc
The market capitalization of Geregu Power Plc on January 15, 2024, jumped to N1.07 trillion on the back of the company’s share appreciating by 7.52 percent to N429 during trading.
Geregu’s share price rose from N399 reported on Friday (January 12, 2024) — at the time, its market valuation stood at N997.5 billion.
Dangote Sugar
Dangote Sugar, on January 17, 2024, became the second Aliko Dangote-owned company to cross the N1 trillion market capitalization level.
