Positive sentiment witnessed in three listed cement companies on the floor of the Nigerian Exchange Group Plc (NGX) resulted in a combined gain of N175.727 billion at the close of trading in January 2023.
This was contained in the trading statistical report of these companies which include Dangote Cement Plc, BUA Cement Plc and Lafarge Africa Plc.
Despite the build-up to the 2023 general elections and interest rate hikes, shares of these cement firms continued to enjoy positive sentiment as investors maintained buying pressure on the stocks to reap high returns on investments.
Analysts have tipped industrial goods stocks to be potential this election season as it is expected that more infrastructural projects are likely to be awarded by the government which would help boost revenues and return on investments.
According to them, industrial goods sectors which included these cement sectors are good to buy and hold for future capital gains.
NewsBeatng gathered that Dangote Cement Plc one of the major Cement manufacturers listed on the industrial goods sub-sector of the Nigerian Exchange Group Plc (NGX) recorded a gain of about N100.539 billion during the month’s trading sessions.
The cement stock grew by 2.26% to close at N266.90 per share and N4.548 trillion in market capitalization during the review period from N261 and market capitalization of N4.447 trillion it opened for trading at the beginning of trading in January, hence has earned a gain of N100.539 trillion.
BUA Cement Plc also listed in the industrial goods sub-sector of the NGX gained about N57.570 billion during the period.