Airtel Pushes SWOOTs Capitalization Up By N316.86 Billion

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The combined market capitalization of stocks worth over one trillion (SWOOTs); appreciated by 1.58% to close at N20.74 trillion from N20.41 trillion the previous week, reflecting a gain of N316.86 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTN Plc.

Airtel Africa Plc’s share price was up by 10.00%. In the figure, the amount gained is N170 billion during the week as the share price increased from N1,732.20; to stand at N1,905.4 per share at the end of the trading week, with a market capitalization of N7.16 trillion. BUA Cement Plc’s share price declined by 3.62% to close the week at N69.30. This led to a decline in the market capitalization by N88 billion to close at N2.35 trillion at the end of the trading.

Dangote Cement Plc’s share price closed the week at N265.00; a decline from the previous week as the market capitalization also went down by N170 billion. The company, which is a competitor of BUA Cement Plc and Wapco Plc; and is the most capitalized cement producer on the NGX, has a total market capitalization of N4.51 trillion.

MTNN Plc’s share price at N230.30 remained flat at the end of the trading sessions of the week. The communications company has a total market capitalization of N4.69 trillion, N2.47 trillion lower than Airtel Africa’s current market value. Nestle Nigeria Plc’s share price stood unchanged to close the week at N1,400.00 per share, amidst sell-offs and buy-interests during the trading week. The Fast-Moving Consumer Goods company currently has a market capitalization of N1.11 trillion.

-Nairametrics.

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