Investors in the Nigerian equities market smiled home last week as the market responded positively to the earnings and dividends declared by some companies. Besides, investors are expecting more earnings and dividends in the days ahead.
The positive run recorded last week was also boosted by the impressive full year, 2015, earnings and dividend declaration of Dangote Cement Plc. While Dangote Cement declared a dividend of N8 per share, Greif Nigeria Plc and African Prudential Registrars Plc recommended 60 kobo and 43 kobo respectively.
The improved result announced by Dangote Cement excited investors leading to strong appreciation of 24 per cent in the company’s share price.
At the close of trades for the week, the NSE All-Share Index (ASI) and market capitalisation appreciated by 6.57 per cent and 6.55 per cent to close the week at 25,820.10 and N8.882 trillion respectively. This is the highest weekly growth the ASI has recorded this year. The gain reduced the year-to-date decline to 9.85 per cent.
Apart from the NSE-Main Board Index, NSE Consumer Goods Index and NSE Oil/Gas Index that depreciated by 0.54 per cent, 1.36 per cent and 6.10 per cent respectively other indices closed higher. But the NSE ASeM Index closed flat
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