Yemisi Izuora
Eight public companies have reportedly outperformed the Nigerian Stock Exchange (NSE) All-Share Index (ASI) as at the end of the first two months of 2015.
The ASI, which is the benchmark indicator to gauge the aggregate growth of the stock market, declined by 13.4 per cent at the end of February due to the bear run that hit the market since late last year.
The index had suffered similar negative performance, declining by 16 per cent last year.
Despite the poor market performance in the first two months as a result of cautious trading by investors due to political and economic uncertainties, THISDAY checks showed that investors in eight companies still ended the period with growths in their investments. The stocks recorded growths between 15.3 per cent and 32 per cent.
Presco Plc led the stocks with the highest capital growth of 32 per cent. Airline Services and Logistics Plc followed with a return of 23.5 per cent. PZ Cussons Nigeria Plc and Seplat Petroleum Development Company Plc appreciated by 22 per cent apiece, Okomu Oil Palm Plc went up by 20 per cent. Union Bank of Nigeria Plc went up 16 per cent, while Cutix Plc grew by 15.3 per cent.
Market analysts said considering the number of stocks that underperformed the ASI and those that stagnated during the review period, investors in these eight companies have every reason to cheer as their investments added value.
Despite the bear run, investors had staked N203 billion on shares in the first two months. However, on a monthly basis, the amount invested in February declined by 16 per cent compared to January’s performance. Investors staked N92.245.25 billion on 7.735 billion shares in 84,640 deals, down from N110.761 billion invested in 9.250 billion shares in 97,050 deals in January.
But unlike January when the Nigerian Stock Exchange (NSE) All-Share Index (ASI) dipped by 14.7 per cent in the first month, it appreciated by 1.8 per cent in February.
An analysis of the market performance in February showed that the highest investment was recorded in the second week when investors staked N27.81 billion on 1.950 billion shares in 19,337 deals. The third week followed with N22.467 billion invested in 2.083 billion shares in 20,805 deals. The last week of the month accounted for 21.315 billion staked on 1.657 billion in 21,062 deals. The first week recorded N20.627 billion invested in 2.027 billion shares in 23,436 deals.