The NSE All-Share Index and Market Capitalisation depreciated by 2.85% and 3.26% to close the week at 41,935.93 basis points and ₦15.002 trillion respectively. Year to date, the index is up 9.66%. Here is a look at last week’s top gainers.
ABC Transport was the week’s top gainer with a 14.29% gain. The stock opened at ₦0.42 and closed at ₦0.48. Year to date, however, the stock is down 4%. Investors may have entered the stock as a form of short-term play, as it was one of the first to dip below the ₦0.50 floor when it was removed.
John Holt Plc
John Holt Plc appreciated by 12.50% last week, opening at ₦0.48 and closing at ₦0.54. Year to date, the stock is up by 8%. Possibilities of sustaining this gain are quite low, as the company has poor fundamentals.
John Holt’s results for the 9 months ended September 2017 show that revenue fell from ₦2 billion in 2016 to ₦1.8 billion in 2017. The company also made a loss before tax of ₦110 million in 2017, compared to a profit before tax of ₦68 million in 2016.
NEM Insurance Plc gained ₦0.28 or 11.50% last week. The stock opened at ₦2.42 and closed at ₦2.70. NEM could witness significant upside as investors could decide to take a position in anticipation of the release of its full-year 2017 results.
Cutix closed last week’s trading session at ₦2.69, gaining a total of ₦0.24 or 9.80%. Year to date, the stock is up 33.83%. Cutix could appreciate further as investors may decide to take a position in anticipation of the release of its full-year results. Cutix has April as the end of its financial year.
NPF Microfinance Bank
NPF Microfinance Bank gained 9.19% in last week’s trading session. The stock opened at ₦1.85 and closed at ₦2.02. Year to date, the stock has gained 61%. Investors could decide to cash out or maintain a hold while waiting for its full-year result and a likely dividend payment.
Fidson Healthcare Plc
Fidson Healthcare gained 7.14% in last week’s trading session. The pharmaceutical giant opened at ₦4.90 and closed at ₦5.25. Year to date, the stock is up 41.89% but could still go much further in anticipation of what could be impressive full year 2017 results.
Fidson’s 2017 results show that revenue moved from ₦4.5 billion in 2016 to ₦10.3 billion in 2017. Profit before tax also rose massively from ₦120 million in 2016 to ₦1 billion in 2017.
Learn Africa Plc
Learn Africa opened at ₦1.04 and closed at ₦1.10, gaining 5.77%. Year to date, the stock is up 25% but could witness more appreciation as investors shift their focus to penny stocks for short and medium term plays.
First Aluminium Plc
First Aluminium Plc opened the week at ₦0.51 and closed at ₦0.53. Year to date, the stock is up 6%. Investors may have decided to take advantage of its fall below the previous ₦0.50 floor, to make short-term gains and the gradual uptick in fundamentals.
Results for the 9 months ended September 2017 show that turnover fell from ₦7 billion in 2016 to ₦5 billion in 2017. Profit before tax, however, rose from ₦110 million in 2016 to ₦163 million in 2017.
AXA Mansard opened at ₦2.63 and closed at ₦2.73, gaining 3.80%. AXA Mansard is up 32% year to date. The stock could witness further slight appreciation as investors await the release of its 2017 full year results.
Morison Industries Plc
Morison Industries rounds up the gainers’ chart for the week with a 3.77% gain. The stock opened at ₦0.53 and closed at ₦0.55. Year to date, the stock is up 3.77%.