These were the best performing stocks in October

October was a bearish month on the Nigerian Stock Exchange as the All Share Index closed down 0.75%. Despite the downturn, some stocks were able to beat the index.

These were the best and worst performing stocks last month:

Gainers

Fidelity Bank Plc

Fidelity Bank Plc was the best performing stock last month, appreciating by 20%. The stock opened at N1.70 and closed at N2.04, up N0.34.

Diamond Bank Plc

Diamond Bank Plc was next with a 19.49% gain. The stock opened at N1.18 and closed at N1.41, up N0.23.

The key driver of the stock’s appreciation was reports of new investors taking a stake. The bank has since refuted this.

Newrest ASL Nigeria Plc

Newrest Air Services Limited added 17.86% last month. The stock opened at N5.60 and closed at N6.60, up N1.

Consolidated Hallmark Insurance Plc

Consolidated Hallmark Insurance (CHI) Plc gained 13.79% last month. The stock opened at N0.29 and closed at N0.33, up N0.04.

Cornerstone Insurance Plc

Cornerstone Insurance Plc gained 10% last month. The stock opened at N0.20 and closed at N0.22, up N0.02.

Cadbury Nigeria Plc

Cadbury Nigeria Plc appreciated by 9.89% last month. The stock opened at N9.10 and closed at N10.

Forte Oil Plc

Forte Oil gained 9.73% last month. The stock opened at N20.05 and closed at N22.00, up N1.95.

Zenith Bank Plc

Zenith Bank gained 9.30%. The stock opened at N21.50 and closed at N23.50, up N2.00.

Total Nigeria Plc

Total Nigeria Plc opened the month of October at N183 and closed at N198, up N15 or 8.20%.

Mutual Benefits Assurance Plc

Mutual Benefits Assurance Plc rounds up the list of 10 best performing stocks in October with a 7.14% gain. The stock opened at N0.28 and closed at N0.30, up N0.02.

Losers

Cutix Plc

Cutix Plc shed 50% last month. The stock opened at N4.10 and closed at N2.03, down N2.07. The stock’s sharp decline is largely due to its been marked down for a one for one bonus and N0.20 dividend.

McNichols Plc

McNichols Plc shed 43.06%. The stock opened at N0.72 and closed at N0.41, down N0.31.

Niger Insurance Plc

Niger Insurance Plc shed 29.73% last month. The stock opened at N0.37 and closed at N0.26, down N0.11.

Honeywell Flour Mills Plc

Honeywell Flour Mills fell by 26.21% in October. The stock opened at N1.45 and closed at N1.07, down N0.38.

John Holt Plc

John Holt Plc opened at N0.53 and closed at N0.40, down N0.13 or 24.53%.

Guinea Insurance Plc

Guinea Insurance Plc declined by 21.88% in the month of October. The stock opened at N0.32 and closed at N0.25, down N0.07.

Lafarge Africa Plc

Lafarge Plc shed 21.1% last month. The stock opened at N22.20 and closed at N17.50, down 21.17%.

Union Diagnostics

Union Diagnostics fell by 20.59% last month. The stock opened at N0.34 and closed at N0.27, down N0.07.

First Aluminium Plc

First Aluminium Plc shed 19.51% last month. The stock opened at N0.41 and closed at N0.33, down N0.08 or 19.51%.

Meyer Plc

Meyer Plc lost 17.65% last month. The stock opened at N0.68 and closed at N0.56, down N0.12.