How C & I Leasing emerged NSE’s best performing stock in August

Morison, Betaglass, Mobil worst performing, as 93 stocks remain at par

Three days after celebrating the acquisition of an 80-tonne vessel, C & I Leasing Plc, the foremost brand for finance leases, and other ancillary services in Nigeria, emerged the best performing stock amongst 171 stocks traded on the Nigerian Stock Exchange in the month of August, 2017.

Investigation by the Daily Times into the monthly statistics of the Nigerian Stock Exchange, NSE, revealed that the share price of C & I Leasing grew by 33 per cent in the one month period beating other stocks performance to settle at N1 per share.

Although, the company, still classified as a penny stock is listed under the support and logistics sector of the NSE and contributes significantly to the Nigerian economy, through the provision of specialized services, in Marine, Telecommunications, Oil and Gas, in Equipment Rentals, Manpower Outsourcing and Transportation services.

Further investigations by Daily Times revealed that the Yemeni Ayeni-led Nascon Allied Industries came next with a share price growth of 25 per cent in the month of August to close at N13 per share.

Mirroring Nascon’s growth on the Exchange in August, was Dangote Flour, which came third with a growth of 23 per cent, having closed at N6.40, as against its opening figure of N5.22.
Beverage maker, Nestle, also topped the list of stocks that appreciated the most in August. The stock recorded a growth of 22 per cent and closed at N1,220 per share, against the opening price of N1,003.70 while PZ grew by 19 per cent to close at N27.30 per share having opened August at N23 per share.
Also, among the month’s top gainers were, NAHCO and Guinness; with 16 per cent increases respectively while livestock feeds and Union Bank advanced during the month by a growth of 15 per cent.
Meanwhile, Daily Times reports that Morison, Betaglass and Mobil now known as 11 Plc emerged the worst performing stocks on the NSE in the month of August with a decline of 37, 37 and 35 percent respectively.

According to data obtained by our correspondent from the exchange, Morison Industries, which opened trading for the month at N1.30 decreased by 37 per cent or 48kobo to close at 82 kobo per share.

Morison which is into the production and marketing of pharmaceuticals and hygiene products is currently seeking approval to raise N502 million through a rights issue.

Trailing Morison’s performance was Betaglass that also closed the month of August with a loss of 37 per cent at N59.84 compared with an opening price of N60.34, while Mobil declined by 35 per cent to close at N165.11 per cent in contrast with the N253 it opened with in the month.

Other laggards in the course of the month were; NEM Plc that dropped by 25 per cent to close at N1 against the opening price of N1.34, while Conoil lost 24 per cent to close for the month at N27.70 per share, compared with July’s closing figure of N36.40. Forte Oil also lost 21 per cent of its share value in August, while Okomu Oil dropped 18 percent. Champion breweries lost 16 percent, Oando lost 15 per cent.
91 of 171 listed companies recorded no change in value in the course of the month’s trading activities. 82 of these stocks are listed on the Main Board, while 9 are listed on the ASeM.
Giving insights into the nature of stock price movement in Nigeria’s capital market, an investment analyst at compass securities, explained recently that the market reacts to sensitive development or information made available to investors.
He urged market participants especially the companies to engage more with the capital market community in a bid to sensitize stakeholders with their activities.
He said this information could help investors take informed decisions, adding that with a little positive information the direction of declining and stagnant share prices can be reversed.

Meanwhile, overall stock market performance for the month of August closed negative as Month-to-Date return closed with a negative 0.95 per cent, while Year-to-Date return moderated to 32.11per cent.

The NSE All-Share Index and Market Capitalization depreciated by 339.38 basis points and N117bn to close the month at 35,504.62 points and N12.237 trillion respectively.

However, the first trading day in the month of September commences today as the nation resumes from a two day public holiday observed on Friday; and Monday, in commemoration of the Eid-el Kabir Muslim festival.
Capital market analyst are highly optimistic of a rebound; as investors are expected to begin bargain hunting following previous depressed stock values.

Afolabi Adesola