NSE: Market Cap Soar By N519.639bn In Nov., As Index Notch 41.19% YTD

Despite the volatility that earmarked the month, trading on the Nigerian Stock Exchange (NSE) closed with the value of investors’ worth or market capitalization climbing by N519.639bn in November on Thursday at N13.214tr from N12.694tr at the end of October.
The average price movement or All-Share index rose from 36,680.29 basis points to 37,944.60 in November, representing a difference of 1,264.31bp or 3.45% for the month.
On a Year-To-Date (YTD) basis, the index was up by 11,069.98bp or 41.19% in the 11 months between January and November 2017, while capitalization grew by N3.885tr or 42.02%.

In absolute terms, for the month of November, according to data by the NSE, Dangote Cement, the biggest company by market capitalization gained the most, as its N21 per share, or 9.38% gain translated to additional N357.84bn to its value for the month, helped by Thursday’s N4.00 notch. Also, Dangote Cement, at the end of November, stood at N4.174tr, representing 31.58% of total market capitalization, from 33%, apparently due to new listings resulting from recently successful rights issues, particularly by Guinness and Unilever Nigeria. The figure is further expected to reduce when new shares of DangCem’s arch-rival, Lafarge Africa, about N140bn arising from the ongoing rights issue is listed on the NSE.

The general rise in the NSE composite index for the month may not be unconnected with the plethora of positive economic and market data, particularly the robust improvements in performance of listed companies for the period. There were also the growth in Nigeria’s GDP from 0.71 (reviewed for the second quarter), to 1.4% as released by the National Bureau of Statistics (NBS), the Purchasing Managers’ Index (PMI); just as the price of oil, Nigeria’s mainstay, at the international market continued to rise, amidst the country’s stable production output helped by the sustained peace in the volatile Niger-Delta region.

In percentage terms, Fidelity Bank was the biggest gainer for the period, as its share price improved by 35.53%; followed by NAHCO Aviance with 32.31%; Diamond Bank, 24.75%; Cadbury, 23.24% and International Breweries, 22.47%. Dangote Sugar gained 20.33%; Medview Air, 19.74%; FBN Holdings, 15.16%; Forte Oil, 14.98%; Eterna, 14.59%; Caverton, 13.49%; NEM Insurance, 12.80%; University Press, 11.16%; BOCGas, 10.36%; and United Capital, 9.63%; among others.

The biggest laggard during the month was Linkage Assurance, which lost 27.91% of the month’s opening price; C & I Leasing, 24.72%; Airline Services, 20.45%; and Nigerian Breweries, 11.80%. Champion Breweries dropped 10.98%; Neimeth Parmaceutical, 10.77%; GlaxoSmithKline Consumer, 9.52%; Transnational Corporation of Nigeria, 5.56%; Beta Glass, 5% and Fidson Healthcare, 4.76%; among others.

http://investdata.com.ng/2017/12/nse-market-cap-soar-n438-23bn-nov-index-notch-41-19-ytd/