The Nigerian Stock Exchange (NGX) started the year as one of the most promising stock exchanges in not just Africa but the entire world. This attitude infiltrated the Apex capital market so much that its all-share index (ASI) hit an all-time high (ATH) of 43,730.55 basis points early in the year.
Despite the decline in bullish momentum, the Nigerian Stock Exchange's wheels managed to propel the All Share Index to a positive year-to-date close of 42,716.07, representing a 6.07% increase.
The majority of this expansion can be attributed to the zeal and ingenuity of local investors, who increased their appetite for local equities.
Despite challenges such as the monetary authorities' policy summersault, massive capital flight, and the attendant high risk associated with the falling Naira, local investors continued to support our local equities.
According to a report by Nairametrics, out of 180 companies’ stocks that traded on the NGX, 72 stocks posted year-to-date gains, while another 55 posted losses all year round, and the rest were flat with no gains or losses.
It continued that when compared to the same period in 2020, about 53 stocks posted double-digit growth in 2021.
The top 10 stocks to watch out for this 2022
The stocks listed below were the ones with the highest year-to-date gain for the year 2021, and with the potentials to drive profit much further this year. According to the research report from nairametrics, they are as follows:
However, ACCESS, ZENITHBANK, FBNH, GTCO, MTNN, AIRTELAFRICA, UBN were the market movers and possess enormous strength to move the market value of the Nigerian Stock Market beyond the NGN22. 3 trillion limits.
|SOVEREIGN TRUST INSURANCE PLC||0.28||0.29||3.57|
|BUA CEMENT PLC||50.45||52.00||3.07|
|JAIZ BANK PLC||0.74||0.76||2.70|