Dangote Sugar Refinery Plc, has been named the best performing stock on the Nigerian Stock Exchange, NSE, in 2017, after appreciating year-on-year by 227.33 percent, to close at N20.
Apart from Dangote Sugar, which topped the best performing stock in Nigeria last year, another stock that did well was
International Breweries Plc also had an impressive run after recording a 194.59 percent growth. Fidelity Bank Plc also soared by 192.86 percent in 2017, Fidson Healthcare Plc went up by 189.06 percent, while Dangote Flour Plc advanced by 185.88 percent iini 2017.
The Nigerian stock market appreciated marginally by N8bn on the first day of trading this year as 27 stocks advanced against 12 decliners.
Equities began the year on a positive note as the All-Share Index rose six basis points to settle at 38,264.79 points.
The Nigerian Stock Exchange market capitalisation rose to N13.617tn from N13.609tn. The market performance was largely driven by price appreciation in Zenith Bank Plc, Access Bank Plc and Dangote Sugar Refinery Plc, which appreciated respectively by 1.1 per cent, 1.4 per cent and 1.8 per cent.
However, activity level declined as volume and value traded fell by 53.7 per cent and 35 per cent to 248.553 million units and N1.784bn, respectively.
Sector performance was mixed as three of the five indices appreciated at the close of trading. The insurance index gained the most, rising by 0.9 per cent on the back of buying interest in Axa Mansard Insurance Plc, Linkage Assurance Plc and Aiico Insurance Plc, which gained respectively by 4.7 per cent, 4.6 per cent and 3.9 per cent.
The consumer goods index followed, appreciating by 0.3 per cent as Dangote Sugar Refinery Plc, PZ Cussons Nigeria Plc and Nascon Allied Industries Plc recorded gains of 1.8 per cent, 2.7 per cent and 3.9 per cent, respectively.
Conversely, Morison Industries Plc was the worst performing stock in the year, going down by 67.88 percent year-on-year, with a closing price of N0.53.