Dangote, BUA, Lafarge Gain N7.921trn in 2024 Q1

In the first quarter of 2024, the market value of Nigeria’s three largest cement companies – Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc – has risen by N7.921 trillion.

This was according to the trading statistical report of these companies which include Dangote Cement Plc, BUA Cement Plc, and Lafarge Africa Plc tracked by Nairametrics.

According to the report, shares of these companies defied prevailing economic challenges such as elevated inflation, a depreciating exchange rate, and persistent security concerns.

The prevailing optimism manifested in discernible shifts in purchasing behavior, culminating in the All-Share Index reaching a noteworthy close at 104,562.06 index points by the end of the quarter.

Equally, the year-to-date return of the NGX All-Share Index indicates its resilience, standing at an impressive 39.84%.

Despite the backdrop of escalating inflation, prospective interest rate adjustments, and volatile exchange rates, investor confidence has displayed remarkable steadfastness in the Nigerian equities market. This unwavering assurance has, in turn, spurred heightened market activity and intensified buying engagements