Dangote Cement Plc, Nestle Nigeria Plc and eight other listed companies have accounted for 71 per cent of the total Nigerian equities market capitalisation.
The market capitalisation of the equities refers to the value of all the 168 equities listed on the NSE, which stood at N11.839 trillion as at February 28, 2019. Others are CCNN, ETI, Unilever and International Breweries with market capitalisation of N262.870 billion, N256.894 billion, N235.545 billion and N225.641 billion, respectively.
According to him, that is why Dangote Cement, for instance, determines the direction of the market most times. Whenever there is any price drop in Dangote Cement, the market will decline and if there is a rise in the shares of Dangote Cement, the market closes positively. “All the same, a diversified portfolio will spread out investors risk and help them attain their financial goals more easily,” stated.