Financial

Dangote Cement, Airtel, and 12 Others Boost NGX Market Cap by N47.34tn in January

Dangote Cement, Airtel Africa, and other companies made significant contributions to the Nigerian Exchange Limited (NGX) market capitalization in January.

Photo by Adeolu Eletu / Unsplash

Dangote Cement's stock price saw a substantial increase, leading to a significant rise in its market capitalization, surpassing that of Airtel Africa and MTN Nigeria.

In January, Dangote Cement, Airtel Africa, and 12 other companies played a pivotal role in driving the Nigerian Exchange Limited (NGX) market capitalization to new heights.

Dangote Cement, in particular, experienced a remarkable surge in its stock price, leading to a substantial increase in its market capitalization, which exceeded that of Airtel Africa and MTN Nigeria.

The positive momentum of Dangote Cement's stock price was initiated when it was announced that Nigerian billionaire investor, Mr. Femi Otedola, had acquired a stake in the company, signaling confidence in its potential to contribute to the country's economic resilience.

The stock prices of other companies, such as BUA Cement, also witnessed significant growth, further bolstering the overall market capitalization of the NGX.

The impressive performance of these companies underscores their influence on the Nigerian stock market and the broader economy.

Source: ThisDay Live

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