September was one of the worst months this quarter, and indeed this year on the Nigerian Stock Exchange (NSE). The All Share Index closed at 32,766.37 basis points, down 5.97%. Year to date, the index is down 14.32%.
The dip is largely due to a herd effect as investors exit emerging markets and pre-election concerns by foreign investors.
Despite the poor performance, some stocks managed to beat the index. Here are the best and worst performing stocks on the NSE for the month:
Top Gainers
Skye Bank Plc
Skye Bank was the best performing stock this month. The stock opened at N0.51 and closed at N0.77, up 50.98%. Year to date, the stock is up 54%.
The stock has since been suspended from trading by the NSE, following the revocation of the bank’s license by the Central Bank of Nigeria (CBN).
Union Diagnostics and Clinical Services Plc
Union Diagnostics and Clinical Services Plc gained 30.77%. The stock opened at N0.26 and closed at N0.34, up N0.08. Year to date, the stock is down 32%.
UAC Property Development Company
UAC Property Development Company (UPDC) gained 24.20%. The stock opened at N1.57, and closed at N1.95, up N0.38. Year to date, the stock is down 30.11%.
C&I Leasing Plc
C&I Leasing Plc gained 20.8% last month. The stock opened at N2.50 and closed at N3.02, up N0.52. Year to date, the stock is up 134.11% and is one of the best performing on the NSE.
First Aluminium Plc
First Aluminium Plc appreciated by 20.59%. The stock opened at N0.34 and closed at N0.41, up N0.07. Year to date, the stock is down 18%.
Top Losers
Standard Alliance Insurance Plc
Standard Alliance Insurance Plc was the worst performing stock last month. The stock opened at N0.38 and closed at N0.20, down N0.18. Year to date, the stock is down 60%.
Universal Insurance Plc
Universal Insurance fell by 42.50%. The stock opened at N0.40 and closed at N0.23, down N0.17. Year to date, the stock is down 54%.
Cement Company of Northern Nigeria Plc
Cement Company of Northern Nigeria Plc (also known as Sokoto Cement) shed 18.12%. The stock opened at N30.90 and closed at N25.30, down N5.60. Year to date, the stock is up 166.32%, and is the best performing stock on the NSE.
Flour Mills of Nigeria Plc
Flour Mills of Nigeria Plc shed 17.70%. The stock opened at N24.30 and closed at N20, down N4.30. Year to date, the stock is down 31.3%.
ABC Transport Plc
ABC Transport Plc declined by 16.67%. The stock opened at N0.36 and closed at N0.30, down N0.06. Year to date, the stock is down 40%.
Cornerstone Insurance Plc
Cornerstone Insurance Plc, fell by 16.67% last month. The stock opened at N0.24 and closed at N0.20, down N0.04. Year to date, the stock is down 60%.