Economy
20 Worst Performing and Best Performing Nigerian Stocks in 2021
By Dipo Olowookere
The year 2021 on the floor of the Nigerian Exchange (NGX) Limited was interesting because of some intrigues that occurred, especially towards the end.
The year closed with a shocker when it was announced that a two-year-old bank, Titan Trust Bank, was acquiring a 104-year-old Union Bank of Nigeria.
This was not a transaction that was expected by observers when the likes of Zenith Bank and Access Bank were thought to be in the best position to shoot the shot.
Another was the crisis at the oldest bank in the country, First Bank, which led to the sacking of the board and that of its parent company, FBN Holdings, leading to the acquisition of a substantial stake by Mr Femi Otedola.
This sparked a boardroom leadership tussle between Mr Otedola and Mr Tunde Hassan-Odukale, chairman of FBN Holdings.
These and others affected the prices of shares on the NGX trading platform and Business Post is bringing the 10 worst performing stocks and 10 best performing stocks in the outgone year, where the exchange grew by 6.07 per cent.
The worst performing stock last year was SCOA Nigeria as its value went down by 64.51 per cent to settle at N1.04 compared with the previous year’s N2.93.
CWG dropped 55.91 per cent to N1.12 from N2.54, Sunu Assuances depreciated by 55.00 per cent to trade at 45 kobo compared with its value in 2020 at N1.00, FTN Cocoa lost 40.91 per cent to sell for 39 kobo versus 66 kobo, while AIICO Insurance declined by 38.05 per cent to 70 kobo from N1.13.
In addition, Japaul fell by 37.10 per cent to 39 kobo from 62 kobo, Vanleer lost 33.54 per cent to sell for N5.45 in contrast to N8.20 it closed 2020, DAAR Communications shed 33.33 per cent in the year to 20 kobo from 30 kobo, Enamelware decreased by 26.70 per cent to N16.20 from N22.10, while Sterling Bank depreciated by 25.98 per cent to N1.51 from N2.04.
On the flip side, Morison Industries finished the year as the best performing stock with a price appreciation of 306.12 per cent to N1.99 from 49 kobo.
Royal Exchange grew by 238.46 per cent to 88 kobo from 26 kobo, Lasaco Assurance rose by 200.00 per cent to N1.05 from 35 kobo, Vitafoam improved by 188.46 per cent to N22.50 from N7.80, while Honeywell Flour jumped by 183.33 per cent to N3.40 from N1.20.
Further, Champion Breweries chalked up 173.26 per cent to trade at N2.35 versus 86 kobo it closed 2020. NEM Insurance gained 151.40 to sell for N4.50 in contrast to the preceding year’s N1.79, Consolidated Hallmark Insurance grew by 146.88 per cent to 79 kobo from 32 kobo, Regency Assurance appreciated by 131.82 per cent to 51 kobo from 22 kobo, while University Press rose by 129.69 per cent to N2.94 from N1.28.
By Adedapo Adesanya
Food Concepts Plc neutralized the gains recorded by three securities, returning the NASD Over-the-Counter (OTC) Securities Exchange into the negative territory with a 0.27 per cent loss on Thursday, December 4.
Yesterday, the share price of the parent company of Chicken Republic and PieXpress declined by 34 Kobo to sell at N3.15 per unit compared with the previous day’s N3.49 per unit.
This shrank the market capitalisation of the OTC bourse by N5.72 billion to N2.136 billion from N2.142 trillion and weakened the NASD Unlisted Security Index (NSI) by 9.57 points to 3,571.53 points from 3,581.10 points.
Business Post reports that Central Securities Clearing System (CSCS) Plc went down by 50 Kobo to N38.50 per share from N38.00 per share, FrieslandCampina Wamco Nigeria Plc gained 29 Kobo to sell at N55.79 per unit versus N55.50 per unit, and Geo-Fluids Plc added 5 Kobo to close at N4.60 per share compared with Wednesday’s closing price of N4.55 per share.
Trading data indicated that the volume of securities recorded at the session surged by 6,885.3 per cent to 4.3 million units from the 61,570 units posted a day earlier, the value of securities increased by 10,301.7 per cent to N947.2 million from N3.3 million, and the number of deals went up by 146.7 per cent to 37 deals from the 15 deals achieved in the previous trading session.
At the close of business, Infrastructure Credit Guarantee Company (InfraCredit) Plc was the most traded stock by value on a year-to-date basis with the sale of 5.8 billion units for N16.4 billion, trailed by Okitipupa Plc with 170.4 million units worth N8.0 billion, and Air Liquide Plc with 507.5 million units valued at N4.2 billion.
InfraCredit Plc also finished the session as the most traded stock by volume on a year-to-date basis with 5.8 billion units transacted for N16.4 billion, followed by Industrial and General Insurance (IGI) Plc with 1.2 billion units sold for N420.2 million, and Impresit Bakolori Plc with 536.9 million units traded for N524.9 million.
By Dipo Olowookere
The upward trend witnessed at the Nigerian Exchange (NGX) Limited in recent sessions continued on Thursday as it further improved by 0.10 per cent.
This was despite investor sentiment turning bearish after the local equity market ended with 23 price gainers and 28 price gainers, indicating a negative market breadth index.
UAC Nigeria gained 10.00 per cent to finish at N88.00, Morison Industries appreciated by 9.94 per cent to N3.54, Ecobank rose by 8.53 per cent to N36.90, and Coronation Insurance grew by 8.47 per cent to N2.56.
On the flip side, Ellah Lakes depreciated by 10.00 per cent to N13.14, Eunisell Nigeria also shed 10.00 per cent to finish at N72.90, Transcorp Hotels slipped by 9.95 per cent to N157.50, Omatek shrank by 9.23 per cent to N1.18, and Guinea Insurance dipped by 8.46 per cent to N1.19.
Yesterday, the All-Share Index (ASI) went up by 152.28 points to 145,476.15 points from 145,323.87 points and the market capitalisation chalked up N97 billion to finish at N92.726 trillion compared with the previous day’s N92.629 trillion.
Customs Street was bubbling with activities on Thursday, though the trading volume and value slightly went down, according to data.
A total of 1.9 billion stocks worth N19.2 billion exchanged hands in 23,369 deals during the session versus the N2.3 billion valued at N21.0 billion traded in 21,513 deals a day earlier.
This showed that the number of deals increased by 8.63 per cent, the volume of transactions depleted by 17.39 per cent, and the value of trades decreased by 8.57 per cent.
For another trading day, eTranzact led the activity chart with 1.6 billion units sold for N6.4 billion, Fidelity Bank traded 31.0 million units worth N589.3 million, GTCO exchanged 28.3 million units valued at N2.5 billion, Zenith Bank transacted 27.1 million units for N1.6 billion, and Ecobank traded 21.9 million units worth N744.3 million.
By Adedapo Adesanya
The Naira marginally depreciated against the United States Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM) on Thursday, December 4 amid renewed forex pressure associated with December.
At the official market yesterday, the Nigerian currency lost 0.01 per cent or 18 Kobo against the Dollar to close at N1,447.83/$1 compared with the previous day’s N1,447.65/$1.
It was not a different scenario with the local currency in the same market segment against the Pound Sterling as it further shed N15.43 to sell for N1,930.97/£1 versus Wednesday’s closing price of N1,925.08/£1 and declined against the Euro by 20 Kobo to finish at N1,688.74/€1 compared with the preceding session’s N1,688.54/€1.
Similarly, the Nigerian Naira lost N5 against the greenback in the black market to quote at N1,465/$1 compared with the previous day’s value of N1,460/$1 but closed flat against the Dollar at the GTBank FX counter at N1,453/$1.
Fluctuations in trading range is expected to continue during the festive season as traders expect the Nigerian currency to be stable, supported by intervention s by to the Central Bank of Nigeria (CBN)in the face of steady dollar demand.
Support is also expected in coming weeks as seasonal activities, particularly the stylised “Detty December” festivities, will see inflows that will give the Naira a boost after it depreciated mildly last month, according to a new report.
“As the festive Detty December season intensifies, inbound travel, tourism spending, and diaspora inflows are expected to provide moderate support for FX liquidity,” analysts at the research unit of FMDA said in its latest monthly report for November.
Traders cited by Reuters expect that the Naira will trade within a band of N1,443-N1,450 next week, buoyed by improved FX interventions by the apex bank.
Meanwhile, the crypto market was down as the US Federal Reserve’s preferred inflation gauge, core PCE, likely rose in September—moving in the wrong direction. However, volatility indices show no signs of major turbulence.
If the actual figure matches estimates, it would mark 55 straight months of inflation above the US central bank’s 2 per cent target. The sticky inflation would strengthen the hawkish policymakers, who are in favour of slower rate cuts.
Ripple (XRP) depreciated by 4.5 per cent to $2.08, Solana (SOL) went down by 3.8 per cent to $138.11, Litecoin (LTC) shrank by 3.1 per cent to $83.23, Dogecoin (DOGE) slid by 2.5 per cent to $0.1463, Cardano (ADA) declined by 2.1 per cent to $0.4368, Bitcoin (BTC) fell by 0.9 per cent to $91,975.45, Binance Coin (BNB) crumbled by 0.9 per cent to $899.41, and Ethereum (ETH) dropped by 0.7 per cent to $3,156.44, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 apiece.
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