August 20, 2017

Investors gain N2.45tr, 28.8% in first half

Nigerian Stock Exchange.. Investors gain N2.45tr, 28.8% in first half... NAIJA INVEST...

THE stock market recorded a six-month average return of about 28.8 per cent in the first half of this year, leaving investors with N2.45 trillion in capital gains during the period.

Notwithstanding the downtrend that characterised June, significant successive bullish rallies in previous months still left equities as one of the best-performing market during the period.

In value terms, the increase of N2.45 trillion in the first half has already surpassed total gains of N2.44 trillion recorded for the entire 2012. However, the real benchmark return of 28.80 per cent is some 6.65 percentage points below the average full-year return of 35.45 per cent recorded in 2012.

Aggregate market value of all equities on the Nigerian Stock Exchange (NSE) closed the first half at N11.426 trillion as against its value-on-board of N8.974 trillion that started the year, representing an increase of 27.3 per cent. The All Share Index (ASI), which doubles as benchmark index for all equities on the NSE and country index for Nigeria, rose from 2013’s opening index of 28,078.81 points to close the first half at 36,164.31 points.

The first-half performance was moderated by the downtrend in the latter half of June, which saw the month closing as the most bearish month with a loss of N649 billion. Equities had shown brighter performance in the first five months with a whooping capital gains of N3.10 trillion. Aggregate market capitalisation of all equities had closed May at N12.075 trillion, while the ASI had indicated a five-month average return of 34.6 per cent.

Nigerian Stock Exchange.. Investors gain N2.45tr, 28.8% in first half... NAIJA INVEST...

Nigerian Stock Exchange..
Investors gain N2.45tr, 28.8% in first half… NAIJA INVEST…

NSE’s data showed that the industrial goods stocks remained the best-performing subgroup during the first half. NSE Industrial Goods Index showed a six-month average return of 49.12 per cent. Ethical investors fared better as NSE-Lotus Islamic Index indicated a return of 42.31 per cent. NSE 30 Index, which tracks 30 most capitalised stocks, posted a first half return of 27.38 per cent. NSE Consumer Goods Index showed a return of 21.40 per cent. NSE Banking Index showed average return of 18.46 per cent while NSE Insurance Index indicated a return of 16.90 per cent. The NSE Oil and Gas Index showed that downstream investors recorded modest return of 12.18 per cent.

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