Afrigather Market capitalization is an easy technique to measure an organization’s value on the inventory market. It’s calculated by multiplying the value of 1 share by the entire variety of shares an organization has.
This determine offers us an thought of the corporate’s worth. As of the tip of the third quarter (Q3) in 2024, Nigeria’s inventory market noticed some notable adjustments, and a number of other corporations stood out as probably the most worthwhile based mostly on their market capitalization.
These ten corporations collectively characterize round 75% of all the Nigerian inventory market, with a mixed market capitalization of N42.33 trillion. Regardless of some ups and downs in inventory costs, these corporations stay key gamers of their industries, contributing considerably to the nation’s financial system. Let’s check out the highest corporations in Nigeria and their performances.
Dangote Cement (N9.07 trillion)
On the prime of the listing is Dangote Cement, Nigeria’s most respected firm by market capitalization, value N9.07 trillion. This large represents 16% of all the inventory market in Nigeria. Regardless of being probably the most worthwhile firm, Dangote Cement’s share worth dropped by 19% throughout the quarter, exhibiting some fluctuation in its inventory efficiency.
Airtel Africa (N8.27 trillion)
In second place is Airtel Africa, a number one telecommunications firm with a market capitalization of N8.27 trillion. Airtel Africa accounts for 15% of Nigeria’s fairness market and noticed its inventory worth improve by 5% in Q3 2024. The corporate surpassed MTN Nigeria to take this spot, solidifying its place within the ICT sector.
BUA Meals (N7.11 trillion)
BUA Meals, from the Client Items sector, holds the third place with a market capitalization of N7.11 trillion, which is about 13% of the entire market. BUA Meals is the one firm from this sector within the prime ten, making it a robust participant in Nigeria’s financial system.
MTN Nigeria (N4.01 trillion)
MTN Nigeria, one other ICT large, ranks fourth with a market capitalization of N4.01 trillion, accounting for 7% of the market. Nevertheless, MTN noticed a decline in its inventory worth following its full-year 2023 report, with a 11% drop throughout the third quarter.
BUA Cement (N3.72 trillion)
In fifth place is BUA Cement, one other key participant within the Industrial Items sector, valued at N3.72 trillion. BUA Cement represents 7% of the entire inventory market. Though it maintained its place year-on-year, the corporate’s inventory worth fell by 23% throughout the quarter.
Geregu Energy (N2.88 trillion)
Geregu Energy secured the sixth spot with a market capitalization of N2.88 trillion, accounting for five% of the market. Geregu Energy’s inventory worth noticed a notable rise, appreciating by 15%, which helped the corporate transfer up from tenth place in Q3 2023.
Seplat Vitality (N2.41 trillion)
Main the Oil & Fuel sector, Seplat Vitality is available in seventh with a market capitalization of N2.41 trillion, contributing 7% to the entire market. The corporate skilled an 8% rise in its inventory worth, making it one of many prime performers within the power sector.
Transcorp Energy (N2.26 trillion)
Transcorp Energy, listed on the inventory trade in 2023, ranks eighth with a market capitalization of N2.26 trillion, which is 4% of the market. Regardless of sustaining its place, the corporate’s inventory worth declined by 19% throughout the quarter.
Warranty Belief Holding Firm (N1.41 trillion)
Warranty Belief Holding Firm (GT Holding) is the ninth most respected firm in Nigeria, with a market capitalization of N1.41 trillion, representing 2.5% of the entire market. GT Holding’s inventory worth appreciated by 7%, showcasing its energy within the banking sector.
Zenith Financial institution (N1.19 trillion)
Rounding out the highest ten is Zenith Financial institution, with a market capitalization of N1.19 trillion. This main Nigerian financial institution accounts for two% of the market and noticed a 6% rise in its inventory worth throughout the quarter, additional strengthening its place within the banking business.
