Market capitalization is an easy components to measure a firm’s price on the stock market. It is calculated by multiplying the impress of 1 fragment by the total number of shares a firm has.
This resolve gives us an notion of the firm’s impress. As of the discontinue of the third quarter (Q3) in 2024, Nigeria’s stock market saw some considerable adjustments, and a lot of corporations stood out as essentially the most principal in step with their market capitalization.
These ten corporations collectively signify round 75% of your full Nigerian stock market, with a blended market capitalization of N42.33 trillion. Despite some united states of americaand downs in stock costs, these corporations dwell key avid gamers in their industries, contributing vastly to the nation’s economic system. Let’s take dangle of a sight on the tip corporations in Nigeria and their performances.
Dangote Cement (N9.07 trillion)
At the tip of the record is Dangote Cement, Nigeria’s most principal firm by market capitalization, price N9.07 trillion. This giant represents 16% of your full stock market in Nigeria. Despite being essentially the most principal firm, Dangote Cement’s fragment impress dropped by 19% for the period of the quarter, exhibiting some fluctuation in its stock efficiency.
Airtel Africa (N8.27 trillion)
In 2nd location is Airtel Africa, a number one telecommunications firm with a market capitalization of N8.27 trillion. Airtel Africa accounts for 15% of Nigeria’s equity market and saw its stock impress make bigger by 5% in Q3 2024. The firm surpassed MTN Nigeria to perceive this set aside, solidifying its field within the ICT sector.
BUA Foods (N7.11 trillion)
BUA Foods, from the Person Goods sector, holds the third field with a market capitalization of N7.11 trillion, which is set 13% of the total market. BUA Foods is mainly the easiest firm from this sector within the tip ten, making it a resounding participant in Nigeria’s economic system.
MTN Nigeria (N4.01 trillion)
MTN Nigeria, one other ICT giant, ranks fourth with a market capitalization of N4.01 trillion, accounting for 7% of the market. However, MTN saw a decline in its stock impress following its paunchy-yr 2023 chronicle, with a 11% descend for the period of the third quarter.
BUA Cement (N3.72 trillion)
In fifth location is BUA Cement, one other key participant within the Industrial Goods sector, valued at N3.72 trillion. BUA Cement represents 7% of the total stock market. Though it maintained its field yr-on-yr, the firm’s stock impress fell by 23% for the period of the quarter.
Geregu Energy (N2.88 trillion)
Geregu Energy secured the sixth set aside with a market capitalization of N2.88 trillion, accounting for five% of the market. Geregu Energy’s stock impress saw a considerable upward push, appreciating by 15%, which helped the firm run up from tenth location in Q3 2023.
Seplat Energy (N2.41 trillion)
Leading the Oil & Gasoline sector, Seplat Energy comes in seventh with a market capitalization of N2.41 trillion, contributing 7% to the total market. The firm experienced an 8% upward push in its stock impress, making it one of the tip performers within the energy sector.
Transcorp Energy (N2.26 trillion)
Transcorp Energy, listed on the stock alternate in 2023, ranks eighth with a market capitalization of N2.26 trillion, which is 4% of the market. Despite sustaining its field, the firm’s stock impress declined by 19% for the period of the quarter.
Guarantee Trust Keeping Company (N1.41 trillion)
Guarantee Trust Keeping Company (GT Keeping) is the ninth most principal firm in Nigeria, with a market capitalization of N1.41 trillion, representing 2.5% of the total market. GT Keeping’s stock impress most neatly-liked by 7%, showcasing its strength within the banking sector.
Zenith Monetary institution (N1.19 trillion)
Rounding out the tip ten is Zenith Monetary institution, with a market capitalization of N1.19 trillion. This leading Nigerian monetary institution accounts for 2% of the market and saw a 6% upward push in its stock impress for the period of the quarter, extra strengthening its field within the banking industry.
