The economic recession plaguing the country took its toll on the stock market last year with many stocks taking a free fall. However, with the achievement of some semblance of stability in the stock market, it seems that the first half of 2017 saw a distinct improvement of market indices, with the NSE All-Share Index during the period rising by 6,242.86 points or 23.23% to close at 33,117.48 points on June 30, 2017 from 26,874.62 as at December 31, 2017.
However, as in all cases in life, there were those would pray for more of the same during the second half and others who are urgently seeking reversals of their fortunes. We now take a look at the best performers for the first half of 2017 as well as the worst.
Best Performer- May & Baker Plc
With a 312.77% increase in share value within 6 months, these are giddy times in the pharmaceutical company. Opening 2017 with a share value of 94k, the company closed June 30th with a share value of N3.88. It thus takes the top spot as the most improved share for the period. Analysts believe that the MoU May & Baker signed with the Federal Government to produce some vaccines locally played a major role in its rise to the summit of this list.
1st runner-up- Stanbic IBTC
Another company that more than doubled its share price within 6 months and this time, it is a bank as Stanbic IBTC shares moved up 120% from N15 on January 1st 2017 to close at a whooping N33 per share on June 30th 2017. It comes in as second place overall and best performing bank
2nd runner-up- Fidson Healthcare
It seems to be the season for pharmaceutical companies as Fidson Healthcare completes our top 3 performers for the period under review. The company’s share price moved from N1.28 to N2.78 to register a 117% increase, sufficient to earn its place among the best of the rest.
After mentioning the best three performers, we now look to the worst 3 performers, whose shareholders are not likely to be smiling often.
Worst Performer- Forte Oil
Taking the rear position is Femi Otedola’s Forte Oil whose share value took a 41% bashing within 6 months to continue a woeful period in the company’s history. Its share price closed at N50.07 as against the N84.43 it closed 2016 at. Weak earnings, investors fear of dilution due to the proposed primary market issue and he non-payment of dividend in the 2016 financial year by the company are being touted as possible reasons for the abysmal performance.
1st runner-up from the rear- 7UP
The bottling company didn’t really have any up, but more of downs as its share value plummeted by 33% to close at N86.45 per share as against the N129 it started off the year with. Once again, weak earnings of the company during the 6 months has been the reason given by analysts for this poor performance.
2nd runner-up from the rear- DNA Meyer
Rounding off the worst 3 performers is DNA Meyer, the paints company whose dull performance in H1 2017 has seen its share price reduce from 87k to 70k. This represents a 19.5% decrease and is unlikely to brighten up the moods of their shareholders.