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Investors’ net worth on exchange surges by 15.95%

February 13, 2018 12:52 AM
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Investors’ net worth on exchange surges by 15.95%

trading on the Lagos floor of the Nigerian Stock Exchange (NSE) last month closed on a positive note with investors’ net worth bsoaring by 15.95 per cent due to increased activities ahead of 2018 earnings season.

The All-Share Index (ASI), which opened for the year at 38,243.19 increased by 6100.46 points to close at 44,343.65 on January 31, 2018.

Sustaining the momentum, the NSE Banking Index, Pension Index, Industrial Index and Premium Index all outperformed the market. The NSE Banking Index rose by 23.3 per cent to close at 586.16, up from 475.44 in December.

The NSE Pension Index increased by 21.9 per cent in January at 1,682.28, up from 1,379.74 in December. The NSE Industrial Index added 409.34 points to close in January at 2,384.93 as against 1,975.59 in December. Also, the NSE Premium Index closed higher at 3,090.56 as against 2,564.13 in December. The NSE 30 Index returned 15.6 per cent in January to be at par with the ASI.

The Main Board and Insurance Indexes rose by 13.3 per cent and 13 per cent to close at 1,941.25 and 157.43 in contrast to 1,713.69 and 139.37 as at December 2017. The Oil and Gas Index closed higher at 366.19, and that was an increase of over 10.74 per cent over 330.69 in December. The Lotus Islamic Index and Consumer Goods Index returned 7.6 per cent and 5.8 per cent in the first month of the year.

The only exception from the positive returns posted by ASI and other sub-sectoral indexes was NSE ASeM Index that closed lower by 1.4 per cent. The ASeM Index lost 15.64 points from 1,087.32 in December to close in January at 1,071.68.

Compared with the market returns in January 2017, only the NSE ASeM and NSE Banking Index closed marginally higher by 1 per cent. The NSE Pension remained neutral to market dynamics that month.

The NSE Insurance closed at negative 1 per cent; Industrial Index, -2 per cent; NSE Premium, ASI, Main Board each closed at -3 per cent. The Oil and Gas Index closed at -4 per cent, while the Lotus Islamic Index and Consumer Goods closed at -6 per cent and -7 per cent respectively.

Source: sunnewsonline.com

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