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

Within 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), TOPNAIJA.NG reports.

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 left off, as sentiment surrounding the biggest catalyst seen this year, MTNN, continues to wane.

“Sentiment in the first half of the month was bearish, however, things took a bullish turn after the MTNN listing mid-month. The stock ended the month at a 52percent premium to its listing price, likewise, the re-balancing of portfolios tracking the MSCI index boosted select names, predominantly Banking, in the last week of the month”, according to equity research analysts at Lagos-based Vetiva Securities.