Dangote Sugar emerges 2017 best performing stock on NSE

Chief Executive of Dangote Industries Limited Aliko Dangote speaks at the Bloomberg Global Business Forum in New York

Dangote Sugar Refinery (DSR) Plc, has emerged 2017 best performing stock on the Nigerian Stock Exchange, outperforming the broader market, with a year-on-year return of 227.33 per cent.

The stock was followed by International Breweries Plc, Fidelity Bank Plc, Fidson Healthcare Plc and Dangote Flour Plc, which appreciated respectively by 194.59 per cent, 192.86 per cent, 189.06 per cent and 185.88 per cent in 2017.

Morison Industries Plc, however, emerged the worst performing stock in the year; returning -67.88 per cent year-on-year, with a closing price of 53 kobo. This was followed by Forte Oil Plc, University Press Plc, MRS Oil Plc and Mobil Oil Nigeria Plc, which featured among the top underperformers in the year with respective returns of -48.50 per cent, -46.23 per cent, -36.49 per cent and -30.25 per cent.

For the first time in three years, the Nigerian Stock Exchange closed the year in the positive territory, as the NSE All-Share Index returned +42.30 per cent year-on-year. Consequently, market capitalisation advanced significantly to close at ₦13.61 trillion (as against ₦9.25 trillion as at the end of 2016).

In the same vein, the volume of transactions and market value advanced by 6.94 per cent and 108.50 per cent, respectively. The market closed in favour of the bulls as 67 advancers emerged while 38 declined.