Best performing Nigerian stocks in 66 days

IT’S no longer news that since the start of this year the world’s best-performing stock market for 2020 has not been particularly impressive.

Most recent data from the Nigerian stock exchange revealed all-share index fell further at the close of its most recent trading session, down by -0.40% to 39,364.67 index points.

The Year-to-date return and market capitalization settled at -2.26% and N20.5 trillion, respectively.

Still, some medium capitalized Nigerian stocks had printed returns in the last 66 days that would make Bitcoin and other top Crypto assets envious.

Why this matters: Investment performance usually helps individuals to understand if their specific financial assets are performing or underperforming. It also provides the needed insight to help an investor modify or maintain his/her strategies.

Methodology: Nairametrics, with the help of other leading financial data providers, through their price assessments performance in percentage terms, ranked the financial assets at specific categories.

Champion Breweries: The medium capitalized brewery stock is the best performing Nigerian stock asset printing gains of about 98% in the last two and a half months amid buying interests by investors that continue to prop the shares of the brewery company upon the expectation of a mandatory takeover by Heineken.

Livestock Feeds Plc: The shares of the Animal feed company have recorded about 60% on the floor of the Nigerian Stock Exchange in the last 66 days, on the account investors continue to raise their stake on the company higher, owing to the impressive financial results of the company in 2020.

NCR Nigeria Plc (NCR): The pretty unpopular Nigerian stock recorded impressive upsides this year, on the account, it has currently gained 58% in two and a half months owing to such a remarkable feat to the fact it produced a significant increase in its 2020 Financial year pre-tax profit despite having its total revenues plunging.

BOCGAS Nigeria: The medium capitalized stock attracted the gaze of Nigerian investors amid its most recent filing, showing its profit after tax in Q3 grew by 48% to N194 million, amid the prevailing pandemic that wreaked havoc on Africa’s biggest economy. The stock has printed YTD returns of about 42%.

Academy Press Plc; Often referred to as one of the oldest and largest publishing houses in Nigeria, as printed gains of about 37% amid reports that reveal Nigerians relatively are not reading books as much as they are supposed to, owing to the rise of Facebook, Netflix, Multichoice and the likes. The N248 million valued Nigerian company is currently trading near its 52 weeks high of 0.46 kobo.

Best performing Nigerian stocks in 66 days