Skye, Unity, Wema Banks Chalk Three-Digit Appreciation, Top January Gainers’ List

Penny stocks, especially those in the financial services sector recorded robust growth in their share price as most rode on the back of the prevailing market sentiments rather than being driven by fundamentals as showed through their most recent numbers.
Most of the stocks outperformed the composite NSE All-Share index, which closed 15.95% up amidst recurrent profit taking; better than the 15.63% recorded by the NSE30, or the 12.11% for the NSE Insurance; or the NSE Oil/Gas index’s 10.74%. Also in the month, the NSE Lotus Islamic index garnered 7.64%; NSE Consumer Goods, 5.81%.

The most robust growth for the month came from the NSE Industrial index, which notched 20.6%; followed bythe NSE Premium index, 20.53%; while the NSE50 index gained 16.26%; leaving the NSE ASeM on the decliners’ table for the month, following its 4.81% slide.
Banking stocks occupied the first six spots on the gainers’ table for the month of January, with Skye Bank leading the pack, having recorded the biggest gain, as its share price closed at 147 kobo, from 50 kobo at the end of December, representing a 194% price appreciation, despite the fact that it remains under a Central Bank of Nigeria (CBN) appointed board and management, which is yet to present audited account for the 2016 financial year to investors.

Unity Bank followed with a 186.79% notch for the month; ahead of Wema Bank’s 182.69% climb.
Diamond Bank gained 112%; while investors in FCMB Holding closed the month 106.76% richer; just as those of Sterling Bank recorded 94.44% capital appreciation; ahead of Cement Company of Northern Nigeria’s 86.84%; Caverton, 82.95%; and Jaiz Bank, 69.84% and Transnational Corporation of Nigeria, 59.59%.
FBN Holdings followed with 58.52%; C&I Leasing, 51.16%; Wapic Insurance, 50%; NPF MFB, 48.80%; Fidelity Bank, 48.78%; Livestock Feeds, 46.99%; Eterna, 46.55%; Champion Breweries, 45.19%; and Honeywell Flour, 44.76%.

The big caps were not left out totally, as they found space at the bottom of the table, with Nigerian Breweries grabbing 8.97%; outpaced by Dangote Cement, which chalked 17.39%; and the 20.61% by Guaranty Trust Bank; while Zenith Bank gained 20.9%.
The decliners’ table was led by the trio of Royal Exchange, ABC Transport, and Lasaco Assurance which lost 16% per share, arising from the new pricing methodology of the NSE that removed the previous 50 kobo per value, allowing stocks that were previously unattractive to test new waters. The three stocks closed at 42 kobo.
They were followed by AG Leventis, which shed 14.29%, just like ASL; while Glaxosmithkline lost 12.08%; Meyer, 11.43%; Prestige Assurance and UNIC, 8%; Nestle Nigeria, 5.53%; Cornerstone, 4% as it closed at 48 kobo, below the previous per value; and NAHCo Aviance, 1.76%; among others.

http://investdata.com.ng/2018/01/skye-unity-wema-banks-chalk-three-digit-appreciation-top-january-gainers-list/#more