The Nigerian Stock Exchange in 2018 (Winners and Losers)
Nigeria closed the year 2017 on the high coming out of recession in same year on the backdrop of increase in crude oil price and luck and not necessarily major economic reform. The Naira after racing to above N500 to a Dollar stabilized between N360 and N370. This was after suffering two devaluations within a year. The Capital Market benefited from the Economic resurgence as hot money came into the system to take advantage of the undervalued stocks. 2017 was a year of two halves. The All Share Index (ASI)Closed at 38,243.19 the last trading day of 2017 and grew by 42.30%.
Coming from the euphoria of 2017 the Market did not followed the normal January quiet trading but however rallied and caught almost everybody unaware. The way it rallied it was thought it was going to be a remarkable year, even better than 2017 until things started slowing down from late February and through the rest of the year. Although the Market started strong but the ASI ended up surrendering most of the momentum of 2017, losing 17.81% in that process. it closed at 31,430.50 on 31st December 2018.
Although the ASI closed on a negative note, it was not the same story for all the stocks listed on the Exchange.
Find below the top 10 gainers of 2018:
TOP TEN GAINERS FOR 2018
| 29/12/2017 | 31/12/2018 | ||
| Security | Close | Close | Change |
| CCNN | 9.5 | 19.4 | 104.21% |
| UNITYBNK | 0.53 | 1.07 | 101.89% |
| STERLNBANK | 1.08 | 1.9 | 75.93% |
| NEM | 1.66 | 2.7 | 62.65% |
| LEARNAFRCA | 0.88 | 1.36 | 54.55% |
| SKYEBANK | 0.5 | 0.77 | 54.00% |
| CAVERTON | 1.29 | 1.92 | 48.84% |
| VITAFOAM | 3 | 4.4 | 46.67% |
| DIAMONDBNK | 1.5 | 2.18 | 45.33% |
| CUSTODIAN | 3.89 | 5.65 | 45.24% |
Find below the top 10 losers of 2018:
TOP TEN LOSERS FOR 2017
| 29/12/2017 | 31/12/2018 | ||
| Security | Close | Close | Change |
| WAPCO | 44.89 | 12.45 | -72.27% |
| AGLEVENT | 0.7 | 0.27 | -61.43% |
| MCNICHOLS | 1.2 | 0.47 | -60.83% |
| AFRINSURE | 0.5 | 0.2 | -60.00% |
| CHAMS | 0.5 | 0.2 | -60.00% |
| CORNERST | 0.5 | 0.2 | -60.00% |
| COURTVILLE | 0.5 | 0.2 | -60.00% |
| DUNLOP | 0.5 | 0.2 | -60.00% |
| FTNCOCOA | 0.5 | 0.2 | -60.00% |
| MULTIVERSE | 0.5 | 0.2 | -60.00% |
Also we provide below is the 2018 Equity performance at a glance :
| 29/12/2017 | 31/12/2018 | ||
| Security | Close | Close | Change |
| ABBEYBDS | 1.3 | 0.98 | -24.62% |
| ABCTRANS | 0.5 | 0.29 | -42.00% |
| ACADEMY | 0.5 | 0.5 | 0.00% |
| ACCESS | 10.45 | 6.8 | -34.93% |
| AFRINSURE | 0.5 | 0.2 | -60.00% |
| AFRIPRUD | 4.22 | 3.87 | -8.29% |
| AGLEVENT | 0.7 | 0.27 | -61.43% |
| AIICO | 0.52 | 0.63 | 21.15% |
| AIRSERVICE | 5.95 | 7.9 | 32.77% |
| ALEX | 9.66 | 8.2 | -15.11% |
| ARBICO | 4.79 | 4.79 | 0.00% |
| BERGER | 8.49 | 8.6 | 1.30% |
| BETAGLAS | 51.31 | 68.3 | 33.11% |
| BOCGAS | 4.58 | 4.21 | -8.08% |
| CADBURY | 15.67 | 10 | -36.18% |
| CAP | 34 | 34.85 | 2.50% |
| CAPHOTEL | 3.15 | 3.1 | -1.59% |
| CAPOIL | 0.5 | 0.23 | -54.00% |
| CAVERTON | 1.29 | 1.92 | 48.84% |
| CCNN | 9.5 | 19.4 | 104.21% |
| CHAMPION | 2.08 | 1.99 | -4.33% |
| CHAMS | 0.5 | 0.2 | -60.00% |
| CHELLARAM | 3.08 | 3.08 | 0.00% |
| CILEASING | 1.29 | 1.78 | 37.98% |
| CONOIL | 28 | 23.25 | -16.96% |
| CONTINSURE | 1.4 | 1.91 | 36.43% |
| CORNERST | 0.5 | 0.2 | -60.00% |
| COURTVILLE | 0.5 | 0.2 | -60.00% |
| CUSTODIAN | 3.89 | 5.65 | 45.24% |
| CUTIX | 2.01 | 1.64 | -18.41% |
| CWG | 2.54 | 2.54 | 0.00% |
| DAARCOMM | 0.5 | 0.4 | -20.00% |
| DANGCEM | 230 | 189.7 | -17.52% |
| DANGFLOUR | 12.15 | 6.85 | -43.62% |
| DANGSUGAR | 20 | 15.25 | -23.75% |
| DIAMONDBNK | 1.5 | 2.18 | 45.33% |
| DUNLOP | 0.5 | 0.2 | -60.00% |
| ENAMELWA | 23.23 | 22.1 | -4.86% |
| ETERNA | 4.06 | 4.7 | 15.76% |
| ETI | 17 | 14 | -17.65% |
| ETRANZACT | 5 | 3.95 | -21.00% |
| FBNH | 8.8 | 7.95 | -9.66% |
| FCMB | 1.48 | 1.89 | 27.70% |
| FIDELITYBK | 2.46 | 2.03 | -17.48% |
| FIDSON | 3.7 | 4.95 | 33.78% |
| FIRSTALUM | 0.5 | 0.36 | -28.00% |
| FLOURMILL | 29 | 23.1 | -20.34% |
| FO | 43.48 | 28.7 | -33.99% |
| FTNCOCOA | 0.5 | 0.2 | -60.00% |
| GLAXOSMITH | 21.61 | 14.5 | -32.90% |
| GSPECPLC | 6.35 | 5.75 | -9.45% |
| GUARANTY | 40.75 | 34.45 | -15.46% |
| GUINEAINS | 0.5 | 0.23 | -54.00% |
| GUINNESS | 94 | 72 | -23.40% |
| HMARKINS | 0.5 | 0.38 | -24.00% |
| HONYFLOUR | 2.1 | 1.28 | -39.05% |
| IKEJA HOTEL | 1.78 | 1.53 | -14.04% |
| INFINITY | 1.44 | 1.42 | -1.39% |
| INITSPLC | 0.82 | 0.67 | -18.29% |
| INTBREW | 54.5 | 30.5 | -44.04% |
| INTENEGINS | 0.5 | 0.38 | -24.00% |
| INTERLINK | 3.8 | 3.6 | -5.26% |
| JAIZBANK | 0.63 | 0.5 | -20.63% |
| JAPAULOIL | 0.5 | 0.21 | -58.00% |
| JBERGER | 28 | 20.1 | -28.21% |
| JOHNHOLT | 0.5 | 0.44 | -12.00% |
| LASACO | 0.5 | 0.3 | -40.00% |
| LAWUNION | 0.77 | 0.6 | -22.08% |
| LEARNAFRCA | 0.88 | 1.36 | 54.55% |
| LINKASSURE | 0.66 | 0.72 | 9.09% |
| LIVESTOCK | 0.83 | 0.49 | -40.96% |
| MANSARD | 1.93 | 1.83 | -5.18% |
| MAYBAKER | 2.6 | 2.45 | -5.77% |
| MBENEFIT | 0.5 | 0.21 | -58.00% |
| MCNICHOLS | 1.2 | 0.47 | -60.83% |
| MEDVIEWAIR | 1.99 | 2.05 | 3.02% |
| MEYER | 0.7 | 0.59 | -15.71% |
| MOBIL | 194.6 | 185.5 | -4.68% |
| MRS | 27.46 | 25.7 | -6.41% |
| MULTITREX | 0.5 | 0.36 | -28.00% |
| MULTIVERSE | 0.5 | 0.2 | -60.00% |
| NAHCO | 3.98 | 3.65 | -8.29% |
| NASCON | 18.5 | 18 | -2.70% |
| NB | 134.9 | 85.5 | -36.62% |
| NCR | 6.3 | 6 | -4.76% |
| NEIMETH | 0.75 | 0.78 | 4.00% |
| NEM | 1.66 | 2.7 | 62.65% |
| NESF | 552.2 | 552.2 | 0.00% |
| NESTLE | 1,555.99 | 1,485.00 | -4.56% |
| NIGERINS | 0.50 | 0.24 | -52.00% |
| NNFM | 5.70 | 4.6 | -19.30% |
| NOTORE | 62.50 | 62.6 | 0.16% |
| NPFMCRFBK | 1.25 | 1.65 | 32.00% |
| NSLTECH | 0.5 | 0.2 | -60.00% |
| OANDO | 5.99 | 5 | -16.53% |
| OKOMUOIL | 67.69 | 76.2 | 12.57% |
| OMOMORBNK | 0.9 | 0.58 | -35.56% |
| PAINTCOM | 0.59 | 0.59 | 0.00% |
| PHARMADEKO | 2.36 | 1.5 | -36.44% |
| PORTPAINT | 2.2 | 2.52 | 14.55% |
| PREMPAINT | 10.39 | 10.4 | 0.10% |
| PRESCO | 68.5 | 64 | -6.57% |
| PRESTIGE | 0.5 | 0.5 | 0.00% |
| PZ | 20.6 | 12.1 | -41.26% |
| RAK UNITY | 0.5 | 0.4 | -20.00% |
| REDSTAREX | 5.12 | 4.2 | -17.97% |
| REGALINS | 0.5 | 0.21 | -58.00% |
| RESORTSAL | 0.5 | 0.5 | 0.00% |
| ROADS | 6.6 | 6.6 | 0.00% |
| ROYALEX | 0.5 | 0.22 | -56.00% |
| RTBRISCOE | 0.5 | 0.38 | -24.00% |
| SCOA | 3.25 | 2.93 | -9.85% |
| SEPLAT | 626.22 | 640 | 2.20% |
| SKYEBANK | 0.5 | 0.77 | 54.00% |
| SKYESHELTER | 100 | 95 | -5.00% |
| SMURFIT | 0.54 | 0.44 | -18.52% |
| SOVRENINS | 0.5 | 0.21 | -58.00% |
| STACO | 0.5 | 0.48 | -4.00% |
| STANBIC | 41.5 | 47.95 | 15.54% |
| STDINSURE | 0.5 | 0.2 | -60.00% |
| STERLNBANK | 1.08 | 1.9 | 75.93% |
| STUDPRESS | 1.99 | 1.99 | 0.00% |
| SUNUASUR | 0.5 | 0.2 | -60.00% |
| TANTALIZER | 0.5 | 0.2 | -60.00% |
| THOMASWY | 0.5 | 0.23 | -54.00% |
| TOTAL | 229.95 | 203 | -11.72% |
| TOURIST | 3.5 | 3.5 | 0.00% |
| TRANSCOHOT | 7.21 | 6.1 | -15.40% |
| TRANSCORP | 1.46 | 1.32 | -9.59% |
| TRANSEXPR | 0.78 | 0.65 | -16.67% |
| TRIPPLEG | 1.06 | 0.77 | -27.36% |
| UACN | 16.9 | 9.75 | -42.31% |
| UAC-PROP | 2.79 | 1.91 | -31.54% |
| UBA | 10.3 | 7.7 | -25.24% |
| UBN | 7.8 | 5.6 | -28.21% |
| UCAP | 3.53 | 2.82 | -20.11% |
| UHOMREIT | 45.22 | 45.2 | -0.04% |
| UNHOMES | 3.02 | 3.02 | 0.00% |
| UNIC | 0.5 | 0.2 | -60.00% |
| UNILEVER | 41 | 37 | -9.76% |
| UNIONDAC | 0.5 | 0.25 | -50.00% |
| UNIONDICON | 13.45 | 13.45 | 0.00% |
| UNITYBNK | 0.53 | 1.07 | 101.89% |
| UNIVINSURE | 0.5 | 0.2 | -60.00% |
| UPDCREIT | 9 | 6.6 | -26.67% |
| UPL | 2.28 | 2.18 | -4.39% |
| VANLEER | 9.09 | 9.1 | 0.11% |
| VERITASKAP | 0.5 | 0.23 | -54.00% |
| VITAFOAM | 3 | 4.4 | 46.67% |
| WAPCO | 44.89 | 12.45 | -72.27% |
| WAPIC | 0.5 | 0.42 | -16.00% |
| WEMABANK | 0.52 | 0.63 | 21.15% |
| ZENITHBANK | 25.64 | 23.05 | -10.10% |
A further analysis of the market performance revealed that a total of 108 losers were recorded in 2018, 12 Companies share price remain unchanged while 32 Companies share price appreciated. The 2018 Market Breadth of 76 was far in favour of the losers.
Year 2018 after opening with so much promises ended up being a dismal year for investors and the Market. Most of the Rights Issues and New Issues of the year did not record the success of 2017. Repatriation of Fund by foreign portfolio managers could not be ruled out as well as a contributor to the sorry state of the Market.
Political tension towards 2019 election can not be over emphasized as part of the remote problem of the Market. Interest rate taken up by the FEDs in US too is a factor worthy of mention considering the high risk of investment in Nigeria.
The elections would be coming up in February, we expect volatility in the Market towards this period because of so much uncertainty surrounding the election and the way the two major parties are going about it.
However, after the election and the settling of the dust we expect the Market to turn around and some of the 108 losers of 2018 may have a reversal of fortune.
We at Investstock wishes you a wonderful year ahead in 2019!!!
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