C&I Leasing, Dangote Flour, Chams outperform other stocks year-to-date

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In five months to May 31, 2019, listed stocks like C&I Leasing Plc, Dangote Flourmills Plc and that of Chams Plc outperformed others on the Nigerian Bourse after recording over 90percent growth year-to-date (ytd).

At N7.20per share as at close of trading on Friday May 31, stock investors in C&I Leasing Plc have seen their stock rally by 304.5percent this year, surpassing any other equity listed on the Nigerian Bourse. At N16.85 per share, Dangote Flourmills Plc is second on the top advancers’ league, recording 146percent increase year-to-date. At 38kobo per share, the price of Chams Plc stock has risen this year by 90percent.

Barely two weeks after listing its shares by introduction on the Nigerian Stock Exchange (NSE), the share price of MTN Nigeria Communications Plc (MTNN) increased by 51.7percent to N136.50.

After a disappointing first-quarter (Q1), the Nigerian stock market staged strong rebound in this second quarter (Q2) as many investors continue to show interest in newly listed MTNN and that of most capitalised stock (Dangote Cement Plc).

Year-to-date (Ytd), the stock market return is in negative of 1.15percent.

Other stocks that have impressed the market this year include that of Caverton Offshore Support Group Plc which has recorded Ytd increase of 33.9percent; Julius Berger Plc (18.7percent); Livestock Feeds (20.4percent); Redstar Express Plc (31percent); Sterling Bank Plc (21.1percent).

Also amongst others, Union Bank Plc stock price has advanced this year by 22.3percent; Beta Glass Plc is up this year by 9.8percent; while that of Cadbury Nigeria Plc has increase Ytd by 9.5percent.

The Nigerian Stock Exchange (NSE) All Share Index (ASI) closed at 31,069.37 points on Friday while Market Capitalisation stood atN13.685 trillion.

Amid this feat, analysts expect the new month of June to begin on a mixed note, picking up where it … Read More...

Stock investors at NSE lose over N300bn

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The Nigerian stock market opened this week on a negative note. Investors lost approximately N303billion at the close of trading on Monday May 27, 2019. The value of listed stocks decreased to N13.299 trillion from a preceding day high of N13.602 trillion. The All Share Index (ASI) also declined by 2.21percent from 30,881.29 points to 30,194.71 points. Year-to-date (ytd), the stock market is down by 3.92percent.

MTNN  led the losers table after its share price decreased from N140 to N130, losing N10 or 7.14percent. Dangote Cement Plc followed after a record dip from N200 to N192, losing N8 or 4percent. Forte Oil Plc was down from N27.8 to N27.45, losing 35kobo or 1.26percent.

On the gainers table, Unilever Nigeria Plc led the pack after its share price went up, from N31 to N33.7, up N2.7 or 8.71percent. ETI Plc advanced from N10.05 to N11, up by 95kobo or 9.45percent. Dangote Flourmills Plc was up from N16.1 to N16.6, adding 50kobo or 3.11percent.

Following a bullish performance last week, market analysts at Afrinvest expect sell-pressures this week “as investors look to take profit on stocks that have recorded strong gains.”

In 3,654 deals, stock dealers exchanged 148,213,300 units valued at N2.217billion. Fidelity Bank Plc, Access Bank Plc, UBA Plc, MTN Nigeria Communications Plc, and Zenith Bank Plc were actively traded stocks on the Nigerian Bourse.

Amid this trades, Vetiva research analysts in their May 27 note expect activity to improve on Tuesday, they do not see activity returning to levels observed last week.

“Though market sentiment is still skewed negative, current prices provide a good entry point for medium to long-term investors. We believe DANGCEM & MTNN will also play major roles in tomorrow’s performance”, the analysts said.

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