Despite the enthusiasm that greeted the start of the year by Nigerians, the sluggish growth of the nation’s economy has resulted in poor performance by some of the country’s biggest companies in the Nigerian Stock Exchange (NSE).
As of the close of trading on Friday, the All-Share Index in the country’s stock market had dropped by 2,479.49 basis points or 6.07 percent from 41,147.39 recorded at the beginning of the year to 38,667.90.
However, certain equities have fared exceptionally well during the period.
Some of these are Lasaco Insurance whose stocks increased by 357 percent and Champion Breweries with 138 percent growth.
Other top stocks are Regency Assurance 118 (percent), Cutix plc (109 percent) and Vitafoam Nigeria Plc (105 percent).
On the other end of the spectrum, Airtel Africa, which returned -29.4 percent, is one of the poorest performers in the capital market.
First City Monument Bank’s stock has dropped by 9 percent while Guaranty Trust Holdco’s stock declined by -8.50 percent.
Stanbic IBTC’s shares also dropped by -7.6 percent to join the list of underperforming banks.
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