BUA Cement Gains N498 Billion, Becomes Top Traded on NGX

BUA Cement Gains N498 Billion, Becomes Top Traded on NGX

  • BUA Cement shares emerged as the best-traded stocks on Friday, December 9, 2022
  • Reports from the Nigeria Stock Exchange showed that the company gained N498 billion last week
  • The company’s market capitalisation hit the N3 trillion market capitalisation mark last week

BUA Cement Plc, owned by Abdul Samad Rabiu, and one of the major cement manufacturing firms in Nigeria recorded a gain of N498 billion at the end of weekly trading on Friday, December 9, 2022.

The company’s gain followed a sustained positive sentiment by investors throughout last week.

BUA Cement, Abdul Samad Rabiu, Stock Exchange
BUA Cement tops gainers table Credit: Kola Sulaimon
Source: Instagram

Top goods on NGX

According to reports, industrial goods stock increased by 19.09 per cent to N91.70 per cent share from N77.00 with which it opened the trading week on Monday, December 5, 2022.

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Analysis indicates that BUA closed the trading week with N3.105 trillion in market cap as against N2.607 trillion at the beginning of the trading week.

Other top gainers for last week include

  • ROYALEX up + 12.50% to close at N0.81
  • ETI up + 11.44% to close at N11.20
  • GUINNESS up + 10.00% to close at N69.30
  • PRESTIGE up + 9.52% to close at N0.46

Due to BUA’s gains, the All-Share Index and Market Capitalisation of the Nigeria Exchange appreciated by 1.51 per cent to close the week at 48,881.93 and N26.625 trillion respectively.

Also, all other indices ended higher except for NGX CG, NGX Premium, banking, pension, and sovereign bonds, et all which depreciated by 0.91 per cent, 1.23 per cent, 0.25 per cent, 0.39 per cent, 1.53 per cent, 0.79 per cent, 0.21 per cent and 0.01 per cent respectively while the NGX Growth and NGX ASeM indices closed flat.

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About 1.225 billion shares worth N15.243 billion in 15,317 deals were traded last week by investors on the floor of the Exchange compared to a total of 839.978 million shares valued at N12.418 billion that exchanged hands the week before in 16,183 deals.

Best deals on NGX

The financial services industry led the activity table with 514.067 million shares valued at N5.104 billion traded in 6,489 deals valued at N5.104 at 33.48 per cent to the total equity turnover volume and value respectively.

This is followed by the construction and real estate industries with 463.348 million shares worth N1.620 billion in 210 deals. The conglomerates followed with a turnover of 69.017 million shares worth N86.431 in 528 deals.

The top three most traded equities are UPDC Real Estate Investment Trust, FBN Holdings Plc and Transnational Corporation Plc which accounted for 765.230 million shares worth N4.282 billion in 847 deals.

Bad Day For BUA Cement as investors lose N112 billion in one day

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Legit.ng reported It was a bad day for investors of BUA cement on Thursday, September 22, 2022, as they had billions wiped off the company's share price, losing a whopping N111.752 billion.

According to reports, the loss occurred despite the company witnessing an improved performance in its 2022 half-year result, which saw it record significant milestones in credit growth, asset quality and profitability.

The company’s share price dropped by 6.18 per cent to trade at N50.10 per share and N1.697 trillion in market capitalisation as of the close of trading on Thursday, September 22, 2022, from N53.40 and N1.808 trillion, a share price and market cap of recorded the day before.

Source: Legit.ng

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