Investors who bought SWOOT (Stocks Worth Over One Trillion naira) gained well over N300 billion at the end of last week's trading as their combined market cap jumped 2.33 percent.
Companies included in this classification are Airtel Africa, BUA Cement, Dangote Cement, Nestle, and MTN Nigeria Plc. Their combined market value advanced to N13.47 trillion from N13.16 trillion the previous week. Here is a breakdown of their individual performances:
Dangote Cement Plc began the trading week with a market capitalization of N3.92 trillion at N230 per share but gained 7.8% to close at N4.23 trillion, gaining a total of N306.73 billion by the end of the week.
Dangote Cement's upsurge came as investors bought into the company's announcement of the commissioning of a new $1 billion, six million Metric Tonnes Per Annum (MTPA) Dangote cement facility located at Okpella, Edo State. The new factory is part of efforts by the company to boost cement production in the state and across the country.
Other SWOOT stocks remained unchanged but experienced relevant fundamentals.
MTN Nigeria's share price remained at N165 at the close of the week, after a marginal 0.61% gain the previous week. The telecommunication company has a total market capitalization of N3.36 trillion and is the second most valuable stock on the Nigerian Exchange, right after Dangote Cement Plc.
MTN Nigeria recently hit a major milestone as the first mobile network operator in Africa to be accorded the highest credit rating from the Global Credit Ratings (GCR). The telecoms company also announced a decision to sell 14% of its shares, and let in close to 2 million retail investors.
BUA Cement Plc ended the week trading at N71 per share and with a market capitalization of N2.40 trillion. The company is a major competitor with Dangote Cement Plc and Wapco Plc.
Recently, the company’s shareholders approved N70 billion to be paid as dividends reflecting N2.067 per share. BUA Cement half-year report is yet to be released.
Airtel Africa Plc’s share price remained unchanged during the week to close at N601.00. The telecommunication company had a total market capitalization of N2.26 trillion at the end of the trading week.
During the week, the Nigerian Communications Commission (NCC) said that it is yet to renew the company's mobile operating license. Airtel, however, stated that it was confident of getting its license renewed.
Nestle Nigeria Plc’s share price also remained unchanged at the end of the week, to close at N1,540.00. The fast-moving consumer goods company currently has a market capitalization of N1.22 trillion. Nestle Nigeria Plc is the only company under Consumer Goods sector to be worth over a trillion.
Earlier in the month, the Board of Nestle Nigeria Plc approved a final dividend payment of N28.14 billion representing N35.50 per share to be paid to existing shareholders for the 2020 financial year.
|FBN HOLDINGS PLC||12.35||11.95||-3.24|
|OMOLUABI MORTGAGE BANK PLC||0.60||0.60||0.00|
|JAIZ BANK PLC||0.90||0.85||-5.56|
|GUARANTY TRUST BANK PLC||23.90||23.90||0.00|
|FCMB GROUP PLC||3.50||3.50||0.00|