Enterprise Television- Dangote Stock Hits The Best Performance 2017
Dangote Refinery Plc the best performing stock on the Nigerian Stock Exchange (NSE) appreciating year-on-year(Y-O-Y) by 227.33 percent, to close at N20, Punch is reporting.Last year was a very good one for the Nigeria bourse and a number of equities performed were outstanding at the market.
For the first time in three trading years, the Nigerian market closed the year in the positive, as the NSE All-Share Index (ASI) closed at 42.30 percent year-on-year(Y-O-Y). Consequently, market capitalisation advanced significantly to close at N13.61 trillion in contrast to N9.25 trillion as at the end of 2016.
A report by CNN, a global news platform, revealed that the Nigerian stock market the third best performing market in the world in 2017, doing better than the United States market.
Apart from Dangote Sugar, which topped the best performing stock in Nigeria last year, another stock that did well was International Breweries Plc, which recorded a (194.59) per cent growth.Also, Fidelity Bank Plc increased by (192.86) percent in 2017, Fidson Healthcare Plc went up by (189.06) percent, while Dangote Flour Plc advanced by (185.88) percent last year.
On the flip side, Morison Industries Plc was the worst performing stock in the year, going down by (67.88) percent year-on-year(Y-O-Y), with a closing price of N0.53.This was followed by Forte Oil Plc (48.50) per cent , University Press Plc(46.23) per cent,and MRS Oil Plc(36.49) per cent which featured among the top under performers in the year.
For the sector performance as measured by the NSE sector indices, all sectors closed the year in the positive territory.The banking sector was the top performing sector, with a return of (73.32) per cent while the oil/gas sector was the top laggard, with a return of (5.76) percent.NSE food/beverage closed at (36.97) per cent, NSE industrial goods at (23.84) per cent and NSE insurance indices recorded advancements of (10.36) percent.
It was observed that the volume of transactions and market value advanced by 6.94 percent and 108.50 percent, respectively. The market closed in favour of the bulls as 67 advancers emerged while 38 declined.