At the end of the fiscal year 2022, three listed cement businesses on the Nigerian Exchange Group Plc (NGX) generated a total gain of over N1.109 trillion.
This was disclosed in the trade statistics report of these firms, which included Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc.
Bullish performance:
Despite the build-up to the 2023 general elections and interest rate rises, shares of these cement companies have maintained a positive feeling as investors position themselves for future capital gains.
Instead of avoiding the market after the sell-offs, market experts encouraged investors that there is still money to be earned if they invest in the proper areas.
That means looking at some of the best-performing sectors despite the fact that the economy is failing; according to them, industrial goods sectors, like the cement industry, are ideal to purchase and keep for future capital gains.
Reports reaching Newsfly indicates that BUA Cement Plc, one of the largest cement producers listed on the industrial products sub-sector of the Nigerian Exchange Group Plc (NGX), led with a gain of nearly N1.039 trillion during the three trading sessions.
During the review period, the cement stock increased by 45.79% to finish at N97.75 per share and N3.310 trillion in market value, up from N67.05 and N2.270 trillion when it debuted for trade in January, earning a gain of N1.039 trillion.
Dangote Cement Plc is also listed on the NGX in the industrial products sub-sector, with a gain of nearly N68 billion throughout the period.
Its stock price increased by 1.56% to N261 per share and N4.447 trillion in market capitalization, compared to N251 and N4.379 trillion in market capitalization when trading began on January 4, 2022.
Lafarge Africa lagged with a 0.2% increase to N24.00 per share and N386.587 billion in market capitalization from N23.95 and N385.781 billion at the start of the trading year.
