NAN-HE-3
Stock
By Chinyere Joel-Nwokeoma
Lagos, Oct. 11, 2017 (NAN) Neimeth Pharmaceutical, AG Leventis and First Aluminium stocks were the worst-performing in percentage terms on the Nigerian Stock Exchange (NSE) in September, a report of the Exchange has revealed.
The exchange’s data obtained by the News Agency of Nigeria (NAN) indicated that Neimeth’s stock dropped by 21.84 per cent, closing at 68k per share to return as worst-performed stock during the period.
AG Leventis came second in the low performance chart with a loss of 16.90 per cent to close at 59k against its opening price of 71k.
First Aluminium lost 16.67 per cent to close at 50k compared with 66k it achieved in August.
Further breakdown of the data showed that Julius Berger dipped by 14.24 per cent to close at N29.33 in contrast with its N34.20 opening price.
Presco shed 13.73 per cent to close at N59 against N68.39 it recorded in August.
Oando dropped 13.43 per cent to close at N5.93 per share in contrast with N6.85 in August, while Skye Bank shed 13.11 per cent to close at 53k against its 61k in the preceding month.
NAN reports that C&I Leasing was the month’s best performing stock, with an appreciation of 53.77 per cent to close at N1.63 per share against an opening price of N1.06.
Newrest ASL came second with a growth of 26.06 per cent to close at N7.16 compared with N5.68 it recorded in August, and Guinness grew by 23.42 per cent to close at N95.01 against N76.98 in the preceding month.
NEM Insurance followed with a gain of 17.17 per cent to close at N1.16 against its opening price of 99k and Cutix grew by 13.12 per cent to close at N2.50 per share, up from its August closing of N2.21per share.
Africa Prudential rose by 12.54 per cent to close the month at N3.50 against N3.11 in August, while Continental Reinsurance grew by 11.94 per cent to close at N1.50 compared with N1.34 per cent in August.
Analysing the report, a capital market operator, Mr Ambrose Omordion, attributed Neimeth’s loss to profit-taking.
Omordion, who is the Chief Operating Officer, InvestData Limited, said AG Leventis and First Aluminum stocks’ value depreciation was due to weak quarterly numbers and profit-taking.
For C & I Leasing, he said its appreciation was due to “the strength of market sentiments and its strong quarterly numbers that hit the market during the period’’. (NAN)
JNC/FF/OPI
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Edited by Fela Fashoro