- Neimeth, Law Union, BUA Cement, lead gainers
The Nigerian stock market is significantly recovering from previous losses as market returns -0.04% year to date.
The market has improved significantly year to date, compared to the returns of -20.65% in March, -14.24% in April, -5.86% in May and -8.8% in June. In July it was -8.0%, and -5.64% in August. In September the market improved significantly to -0.04%; just one or two more gains will completely wipe off the losses in the market.
This growth can be traced to the recent bullish trend for 9 trading sessions, precisely from 18th of September till 30th of September 2020.
Month to date the market grew by 5.94% as the All Share Index in September closed at 26,831.76 points as against 25,327.13 points at the close of trade in August.
Neimeth Pharmaceuticals led other gainers with 198% growth in it share price year to date. The price of the stock moved from N0.62 as the the close of trade in December 31, 2019 to N1.85 at the close of trade in September 30, 2020.
Law Union and Rocks Insurance is the second on gainers list as the share price of the underwriting firm grew by 132% from N0.5 to N1.16.
BUA Cement is third on the list of gainers year to date as its share price grew by 130.66% to N41.75 from N18.1.
Other among top ten gainers year to date include: May & Baker (50.26%), Cornerstone Insurance (44.44%), Okomu Oil (43.88%), Ekocorps (41.18%), United Capital (38.75%), Vita foam (36.36%) and FTN Cocoa (30%).
Airtel and MTN grew their share prices significantly by 27.13% and 22.86% respectively.
Dangote Cement also grew it share price by 0.63% year to date.