‘Most valuable companies in Nigeria as of June 2022 are enterprises that rose through inflation. They are able to acquire revenues and still positively affect the economy. Airtel tops the chart with a market value of N6.51 trillion as of June 2022.
Dangote Cement and MTN Nigeria follow with N4.69 trillion and N4.68 trillion, respectively. The Nigerian stock market benefits by 21.17% gain from the movements of these companies. With this, BizwatchNigeria highlights ranking the most valuable companies in Nigeria and sectors on the NGX as of June 2022.
As regards market value’s biggest gainers, Airtel and MTN lead the chart. Airtel Africa’s market capitalisation surged by N2.92 trillion in the year’s first six months. Which accounts for 51.8% of the total market gain in the review period. MTN follows the rein gaining N671.69 billion in market valuation. Seplat Energy, Dangote Cement, and BUA Foods gain N382.49 billion, N306.73 billion, and N270 billion, respectively.
Inversely, GT Bank records the highest loss, with a decline of N161.87 billion in its market valuation, followed by Nestle Nigeria and Zenith Bank with N124.05 billion and N108.32 billion losses, respectively.
Top sectors by market capitalisation
The ICT sector boasts a valuation of N11.21trillion, accounting for 40.1% of the equities market. In the first six months, this sector records a growth of N3.59trillion, N7.62 trillion as of December 2021.
The industrial goods sector ranks second with a valuation of N7.61trillion, gaining N512.88billion in the first half of the year. The consumer goods sector is a distant third with a valuation of N3.55 trillion with an N407.16 billion gain in the review period.
Inversely, the banking sector falls fourth from the third position with a valuation of N3.38bilion. In the year’s first half, the banking sector records an N215.52 billion loss.
Top companies by market capitalisation
Airtel Africa – N6.51 trillion (Two spots up)
Airtel moved from third place six months ago to grab the position of most capitalised in Nigeria based on NGX data. With a market valuation of N6.51 trillion, Airtel’s market value rallied by 81.38% in the six months. This represents a capitalisation gain of N2.92 trillion from N3.59 trillion recorded as December 2021.
Dangote Cement – N4.69 trillion (One spot down)
Dangote Cement lost the first position as the most capitalised company to Airtel despite a positive movement in share price. Dangote’s market capitalisation records N4.38trillion by December 2021 to N4.69trillion in June 2022. It gathers an appreciation of N306.73billion.
MTN Nigeria – N4.68 trillion (One spot down)
MTN dropped from the second position at the end of last year to the third. The telco has a market valuation of N4.68trillion. This is despite the 16.75% increase in its market capitalisation from N4.01 trillion. However, its industry competitor surmounts MTN and Dangote Cement to the golden position on top.
BUA Cement – N2.43 trillion (remain flat)
BUA Cement maintained its fourth position with a market valuation of N2.43trillion despite gaining 7.23% (+N164.24billion) in the first six months of the year from N2.27 trillion recorded at the year.
Nestle Nigeria – N1.11 trillion (remain flat)
Nestle Nigeria ranked fifth on the NGX data with a market valuation of N1.11trilion. Meanwhile, the company’s valuation declined by 10.1% (N124.1 billion) in the first six months from N1.14 trillion recorded as 31st December 2021.