2018 was a bearish one on the Nigerian Stock Exchange (NSE) as the All Share Index closed in the red, down 17.81%. Here is a rundown of the best and worst stocks for last year.
Best Performing Stocks
Cement Company of Northern Nigeria Plc
Cement Company of Northern Nigeria (CCNN) was the best performing stock last year. The stock opened at ₦9.50 and closed at ₦19.40, up ₦9.90 or 104.21%.
Unity Bank Plc
Tier two lender, Unity Bank, is next on the list. The stock appreciated by 101.89%, opening at ₦0.53 and closing at ₦1.07.
Sterling Bank Plc
Sterling Bank takes third place. The stock gained 75.93% last year, opening at ₦1.08 and closing at ₦1.60, up ₦0.52.
NEM Insurance Plc
NEM Insurance gained 62.65% last year. The stock opened at ₦1.66 and closed at ₦2.70.
There was a rally in the stock’s share price when news of what seemed to be a tussle for control by key shareholders broke out.
Learn Africa Plc
Learn Africa opened 2018 at ₦0.88 and closed at ₦1.36, up 54.55%.
Caverton Offshore Support Group Plc
Caverton Offshore Support Group gained 48.84% last year. The stock opened ₦1.29 and closed at ₦1.92.
Vitafoam Plc opened 2018 at ₦3 and closed at ₦4.40, up 46%.
The upward movement in the company’s share price is due to the firm posting a huge improvement in profit in 2018 compared to its 2017 financial year, and also declaring a ₦0.25 dividend and one for 5 bonus.
Diamond Bank Plc
Diamond ended 2018 with 45.33% or ₦0.58 gain, opening at ₦1.50 and closing at ₦2.18.
The stock had a roller coaster year, hitting as high as ₦3 when tier two banks rallied, before dropping sharply when rumours of poor liquidity and capital adequacy ratios arose.
The lender also had a minor boardroom crisis when its Chairman, Oluseyi Bickersteth, and three other board members abruptly resigned. This saw the stock sinking to ₦0.65.
Access has made an offer comprising ₦1 in cash and 2 Access Bank shares for every 7 Diamond Bank shares held, with a value of ₦3.13.
Custodian Investment Plc
Custodian Investment appreciated by 45.24% in 2018. The stock opened at ₦3.89 and closed at ₦5.65.
C and I Leasing Plc
C and I Leasing rounds up the top 10 gainers of 2018. The stock opened at ₦1.29 and closed at ₦1.78, up 37.9%.
Top Losers of 2018
2018 saw the NSE moving the minimum price floor from ₦0.50 to ₦0.10 and then to ₦0.20. This saw a large number of stocks, especially in the insurance sector, crashing.
Lafarge Africa shed 72.27% in 2018. The stock opened at ₦44.89 and closed at ₦12.45. The decline in share price was largely due to poor results released within the year and the company raising ₦89 billion through a rights issue.
AG Leventis Nigeria Plc
AG Leventis opened 2018 at ₦0.70 and closed at ₦0.27, down ₦0.53 or 61.43%. The decline in the stock’s price has been largely due to poor results, with the company highly likely to post a loss for the 2018 financial year.
McNichols Plc opened at ₦1.20 and closed at ₦0.47, down 60.83%.
Chams Plc, Sunu Assurance et al
Chams Plc, Sunu Assurance (formerly known as Equity Assurance), FTN Cocoa Process, Universal Insurance and Cornerstone Insurance all have a joint place. The stocks opened at ₦0.50 and closed at ₦0.20, down ₦0.30, or 60%.
Japaul Oil and Maritime Services et al
Japaul Oil and Maritime Services Plc, Mutual Benefits, Regency Alliance and Sovereign Trust Insurance also take a joint sixth spot.
The stocks opened at ₦0.50 and closed at ₦0.21, down ₦0.29 or 58%.
Royal Exchange Plc
Royal Exchange Plc declined by 56% last year. The stock opened at N0.50 and closed at ₦0.22, down ₦0.28.
Guinea Insurance & Veritas Kapital Assurance
Guinea Insurance and Veritas Kapital Assurance both shed 54% last year. The stocks opened at ₦0.50 and closed at ₦0.23, down ₦0.27.
Niger Insurance Plc
Niger Insurance opened 2018 at ₦0.50 and closed at ₦0.24, down ₦0.26 or 52%.
Union Diagnostics and Clinical Services Plc
Union Diagnostics and Clinical Services Plc shed 50% last year. The stock opened at ₦0.50 and closed at ₦0.25, down ₦0.25.
International Breweries Plc
International Breweries rounds up the top 10 losers for 2018. The stock opened at ₦54.50 and closed at ₦30.50, down ₦24.
The poor share price is largely due to losses incurred by the firm, following its merger with Intafact Beverages Limited and Pabod Breweries Limited.