For the eight months ending on August 30, the returns on the major cement makers’ shares—Dangote Cement Plc, Seplat Energy Plc, and Lafarge Africa Plc—surpassed those of other premium companies.
Access Holdings Plc, Dangote Cement Plc, FBN Holdings Plc, United Bank for Africa Plc, Lafarge Africa Plc, Zenith Bank Plc, MTNN Plc, and Seplat Energy Plc are the firms that make up the NGX Premium.
For the eight months ending on August 30, the returns on the major cement makers’ shares—Dangote Cement Plc, Seplat Energy Plc, and Lafarge Africa Plc—surpassed those of other premium companies.
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Dangote Cement Plc, Access Holdings Plc, FBN Holdings Plc, United Bank for Africa Plc, Lafarge Africa Plc, Zenith Bank Plc, MTNN Plc, and Seplat Energy Plc are the NGX Premium firms..
Dangote Cement share price at N 532 at the end of the review eight months period grew by 66.3 percent. Likewise, Seplat Energy which stood at N3,730.10 per share as at August 30 rose in eight months by 61.5 percent.
At N 37.60 per share as at August 30, Lafarge Africa rose by 19.4 percent in eight months, underperforming the NGX-ASI which recorded positive return of 29.16 percent as at August 30.
The equities market’s value increased by N14.5trillion in the review period driven by a combination of listings and investors bargain appetite for stocks which pushed market’s value higher.
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While the earlier mentioned premium stocks yielded positive returns, investors recorded negative returns in others premium companies like MTNN, Access Holdings, United Bank for Africa, FBN Holdings and Zenith Bank.
MTNN stood at N180 per share as at August 30, representing a decrease by 31.8 percent in eight months. Also, at N19 per share Access Holdings closed the eight months period, its share price decreased by 17.9 percent.
United Bank for Africa share price decreased by 10.5 percent in the review eight months period to N22.95. FBN Holdings share price at N 22.50 decreased by 4.5 percent in eight months. Zenith Bank which closed at N 38.25 as at August 30, was down by 1 percent in the review period.
