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 b...