Kayode TokedeAirtel Africa Plc, Dangote Cement Plc, MTN Nigeria Communications Plc, BUA Cement, Seplat Energy Plc and five other blue-chip companies have tightened their grip on the Nigerian equities market, accounting for N112.902 trillion, or 72.2 per cent, of the Nigerian Exchange Limited’s (NGX) overall market capitalisation of N156.44 trillion as of July 10, 2026.The development followed renewed positive sentiment in the stock market, as investors returned to fundamentally strong equities after the massive sell-off and profit-taking that rocked the Exchange in June.
The 10 most capitalised companies span the telecommunications, cement, oil and gas, information technology, banking and agro-allied sectors, highlighting the dominance of a handful of large corporations in determining the direction of the Nigerian stock market.Airtel Africa emerged as the most capitalised company on the NGX after its market value crossed the N20 trillion threshold to N21.8 trillion, a historic milestone for the telecommunications giant.Strong investor demand pushed Airtel Africa’s share price up by 10 per cent to N5,801.40 per share, from N5,274 at the start of the trading period.
The rally in Airtel Africa and other heavyweight stocks helped propel the overall market capitalisation by N9.3 trillion in one week, rising from N147.1 trillion to N156.44 trillion as of July 10.Dangote Cement followed with a market capitalisation of N17.7 trillion, while MTN Nigeria Communications Plc occupied the third position with N17.01 trillion.
