NESTLE, MTN Drive SWOOTs Capitalization Down By N724 Billion.

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The combined market capitalization of stocks worth over one trillion (SWOOTs) depreciated by 3.49% to close at N20.01 trillion; from N20.74 trillion the previous week, reflecting a decline of N723.86 billion. Stocks included in this classification are AIRTELAFRICA, BUA CEMENT, DANGOTE CEMENT, NESTLE and MTNN Plc.

MTNN Plc is now the third-highest in market value on the Nigerian Exchange (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.

Nestle Nigeria Plc is now the only company under the NGX Consumer goods Index to be worth over a trillion; following the exit of BUA Foods from the SWOOTs category. Airtel Africa Plc’s share price remained unchanged during the week to stand at N1905.4 per share at the end of the trading week; with a market capitalization of N7.16 trillion.

BUA Cement Plc’s share price close the week flat at N69.3, retaining its market capitalization at N2.35 trillion.

Dangote Cement Plc is the third most-valued company quoted on the exchange and makes up roughly 22% of the total market capitalization of all stocks worth over one trillion.

Nairametrics.

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