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Dangote Cement retains top Nigeria's capitalised firms


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Nigeria

Dangote Cement retains top Nigeria's capitalised firms

 Lagos (WorldStage Newsonline)-- Dangote Cement has ended the second quarter 2011 as (STAKES 55) Nigeria's most capitalised firms, 4.8 per cent better than the first quarter.

Market capitalization of first tier equities remained flat for the third consecutive quarter closing at N7.9 trillion at the end the quarter.

The STAKES 55 however, gained marginally to end 2.2 per cent higher than the previous quarter to close at N7.4 trillion. The STAKES 55 is now 93.7 per cent of total value of first tier equities, an improvement from 91.5 per cent last quarter.

The top ten most capitalized companies rose in value to N5.21trillion, 4.2 per cent higher than the previous quarter propelled by gains from Dangote cement, Nigerian Breweries, Guinness and Nestle. The top ten are 70.2 per cent of the STAKES 55 and 65.8 per cent of the total first tier market value.

Dangote Cement maintains No. 1 spot with a market value N14billion in excess of N2 trillion three times the size of closest rival Nigerian Breweries which ended the quarter at N661.7 billion while Zenith bank is 3rd valued at N460.3 billion. The top eight positions remain unchanged; GT Bank Plc, First Bank Plc, Guinness Nig., Nestle Nigeria and United bank for Africa maintained their positions at 4th, 5th, 6th, 7th and 8th positions with a market capitalization of N454.1 billion, N407.9 billion, N361.4 billion, N317.06 billion and N182.37 billion respectively. Flour Mills Plc N178.5 billion and Stanbic IBTC Plc N172.5billion switched places to occupy 9th and 10th positions.

The number of banks on the list reduced to 20 from 21 whilst still maintaining its dominance of the list in both number and value with a value of N2.41 trillion, 8.7 per cent less than the last quarter. Dangote Cement edged the building materials sub-sector to a possible overtaking of the banking sector with a combined value of N2.2 trillion, the highest to date. Breweries was 3rd by sector with N1.036 trillion though with just three companies while nine food & beverages companies put the sector in 4th place with a value of N917.6 billion. The oil & gas sector was at a distance with a combined value of N274.7 billion.

Chemical & Allied Product Plc made its first showing on the list with a value of N19.1 billion. Spring Bank Plc fell off this quarter's list.

Story by Nkechi Naeche (nkechinaeche@yahoo.com)

 

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Updated 6 Years ago
 

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Tags:     Dangote Cement     Nigerian Breweries     Guinness     Nestle     GT Bank Plc

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