March 2024 Performance Analysis of Nigerian Stock Exchange Listed Companies

The Nigerian Stock Exchange (NSE) serves as a vital platform for investors to participate in the country’s economy. March witnessed a blend of movements among various stocks listed on the NSE. Here, we explore the performances of some notable stocks during the month:

Top Performers:

  1. Dangote Sugar Refinery (DANGSUGAR): DANGSUGAR experienced significant growth with a price increase of 1.20%. The company’s stock traded at 57.20, reflecting positive investor sentiment towards the sugar industry.
  2. Guaranty Trust Holding (GTCO): Despite a slight decrease in price (-1.50%), GTCO remained one of the most traded stocks on the NSE. With a price of 47.50, GTCO continues to be a key player in Nigeria’s financial sector.
  3. MTN Nigeria (MTNN): MTNN demonstrated resilience with a price increase of 1.00%. As one of the leading telecommunications companies in Nigeria, MTNN maintained its position amidst stiff competition and regulatory challenges.
  4. Dangote Cement (DANGCEM): DANGCEM, a heavyweight in the industrial sector, sustained its price at 686.70. The company’s stability reflects its robust business model and market dominance in the cement industry.
  5. Nigerian Exchange Group (NGXGROUP): NGXGROUP saw a price increase of 0.50%, trading at 23.50. The company’s performance highlights the growing interest in the Nigerian capital market and the exchange’s role in facilitating investment activities.

Stable Performers:

  1. African Alliance Insurance (AFRINSURE): AFRINSURE maintained a stable price at 0.20. While the insurance sector faces challenges such as regulatory changes and increased competition, AFRINSURE’s stability indicates cautious investor optimism.
  2. Cadbury Nigeria (CADBURY): CADBURY traded at 19.00 with no change in price. The company’s resilience amidst market fluctuations underscores its strong brand presence and product portfolio in the consumer goods sector.
  3. Nigerian Breweries (NB): NB experienced a slight decrease in price (-0.15%), trading at 28.95. Despite challenges such as inflation and supply chain disruptions, NB remains a dominant player in the Nigerian beverage industry.

Challenges Faced:

  1. FBN Holdings Plc (FBNH): FBNH witnessed a price decrease of -0.85%, trading at 31.15. The decline may be attributed to concerns regarding asset quality and regulatory issues within the banking sector.
  2. Fidelity Bank Plc (FIDELITYBK): FIDELITYBK experienced a slight decrease in price (-0.05%), trading at 9.90. The bank continues to navigate challenges such as rising non-performing loans and regulatory compliance.
  3. Guaranty Trust Holding (GTCO): GTCO faced a price decrease of -1.50%, trading at 47.50. The decline may reflect broader market sentiment and sector-specific challenges impacting banking stocks.

Read Also: March 2024 Performance of Ghana Stock Exchange (GSE) Listed Companies

ABBEYBDSAbbey Mortgage Bank Plc1,402,086,6322.49-0.16
ABCTRANSAssociated Bus Company50,5070.70+0.00
ACADEMYAcademy Press10,6751.74+0.00
ACCESSCORPAccess Holdings Plc20,736,08822.75-0.25
AFRINSUREAfrican Alliance Insurance0.20
AFRIPRUDAfrica Prudential Plc455,3386.95+0.05
AFROMEDIAAfromedia Plc0.24
AIICOAiico Insurance Plc5,194,3841.14+0.00
AIRTELAFRIAirtel Africa Plc1812,200.00+0.00
ALEXAluminium Extrusion Industries5027.15+0.00
ARBICOArbico Plc1.03
ASOSAVINGSAso Savings & Loans0.50
AUSTINLAZAustin Laz & Company2002.03+0.00
BAPLCBriclinks Africa Plc6.25
BERGERBerger Paints131,33117.00+0.00
BETAGLASBeta Glass Company159.40+0.00
BUACEMENTBUA Cement Plc10,110143.20+0.00
BUAFOODSBUA Foods7,649379.90+0.00
CADBURYCadbury Nigeria191,09919.00+0.00
CAPCAP Plc1,20024.00+0.00
CAPOILCapital Oil Plc0.20
CAVERTONCaverton Offshore Support Group48,0941.62+0.00
CHAMPIONChampion Breweries5,4313.72+0.00
CHAMSChams Plc1,138,0702.15-0.05
CHELLARAMChellarams Plc2824.10+0.00
CILEASINGC&I Leasing Plc965,5903.70+0.20
CONHALLPLCConsolidated Hallmark Holdings1,2451.57+0.00
CONOILConoil Plc15,46590.90+0.00
CORNERSTCornerstone Insurance Company267,8001.93-0.07
CUSTODIANCustodian & Allied Plc21,1109.00+0.00
CUTIXCutix Plc1,379,7983.19+0.29
CWGComputer Warehouse Group3,5467.50+0.00
DAARCOMMDaar Communications166,3010.61+0.00
DANGCEMDangote Cement9,653686.70+0.00
DANGSUGARDangote Sugar Refinery713,16457.20+1.20
DEAPCAPDeap Capital Management & Trust0.62
DUNLOPDN Tyre & Rubber Plc0.20
EKOCORPEkocorp Plc5.79
ELLAHLAKESEllah Lakes Plc1,022,9163.61-0.08
ENAMELWANigerian Enamelware Plc19.30
ETERNAEterna Plc166,73616.55+0.00
ETIEcobank Transnational Inc53,63826.00+0.00
ETRANZACTE-Tranzact International5,2356.25+0.00
EUNISELLEunisell Interlinked Plc3.20
FBNHFBN Holdings Plc6,249,10231.15-0.85
FCMBFCMB Group Plc2,273,4058.20-0.50
FIDELITYBKFidelity Bank Plc849,8999.90-0.05
FIDSONFidson Healthcare142,23115.90+0.00
FLOURMILLFlour Mills Nigeria260,95939.10+0.00
FTNCOCOAFTN Cocoa Processors166,1721.76+0.00
GEREGUGeregu Power Plc25,5981,000.00+0.00
GOLDBREWGolden Guinea Breweries3.15
GOLDINSUREGoldlink Insurance0.20
GTCOGuaranty Trust Holding25,739,74447.50-1.50
GUINEAINSGuinea Insurance709,8010.36-0.01
GUINNESSGuinness Nigeria11,66649.60+0.00
HONYFLOURHoneywell Flour Mill561,9613.54-0.16
IKEJAHOTELIkeja Hotel Plc101,3437.30+0.00
IMGIndustrial & Medical Gases185,70013.75+0.00
INFINITYInfinity Trust Mortgage Bank5107.19+0.00
INTBREWInternational Breweries108,4184.50+0.00
INTENEGINSInternational Energy Insurance25,1251.58+0.00
JAIZBANKJaiz Bank Plc1,839,3412.19+0.01
JAPAULGOLDJapaul Gold and Ventures Plc3,094,5802.06+0.00
JBERGERJulius Berger Nigeria Plc797,98958.50-1.50
JOHNHOLTJohn Holt Plc80,0001.98+0.00
JULIJuli Plc10,0029.49+0.00
LASACOLasaco Assurance348,5002.01-0.13
LEARNAFRCALearn Africa75,9203.30+0.00
LINKASSURELinkage Assurance3990.90+0.00
LIVESTOCKLivestock Feeds116,5951.75+0.00
LIVINGTRUSTLivingTrust Mortgage Bank3.27
MANSARDAXA Mansard Insurance611,8475.80+0.10
MAYBAKERMay & Baker Nigeria80,8756.55+0.00
MBENEFITMutual Benefits Assurance411,4410.64+0.00
MCNICHOLSMcNichols Plc26,8051.17+0.00
MECUREMeCure Industries81,1879.72+0.00
MEDVIEWAIRMedview Airline Plc1.62
MEYERMeyer Plc10,2005.60+0.00
MORISONMorison Industries10,8952.12+0.00
MRSMRS Oil Nigeria1,044135.00+0.00
MTNNMTN Nigeria4,407,156230.00+1.00
MULTITREXMulti-Trex Integrated Foods0.36
MULTIVERSEMultiverse Mining & Exploration11,65015.30+0.00
NAHCONigerian Aviation Handling Co.394,39633.25+0.00
NASCONNational Salt Company1,319,53452.55+0.00
NBNigerian Breweries16,294,75428.95-0.15
NCRNCR Nigeria4.32
NEIMETHNeimeth International Pharma20,3851.82+0.00
NEMN.E.M. Insurance Company78,9279.80+0.00
NESTLENestle Nigeria6,613900.10+0.00
NGXGROUPNigerian Exchange Group1,092,88123.50+0.50
NIDFNigeria Infrastructure Debt Fund15114.00+0.00
NIGERINSNiger Insurance Company0.20
NNFMNorthern Nigeria Flour Mills21,00048.30+0.00
NOTORENotore Chemical Industries Plc62.50
NPFMCRFBKNPF Microfinance Bank411,7731.90+0.00
NSLTECHSecure Electronic Technology93,8000.64+0.00
OANDOOando Plc1,401,71711.60+0.05
OKOMUOILOkomu Oil Palm3,308243.00+0.00

In conclusion, March witnessed a diverse range of performances among stocks listed on the Nigerian Stock Exchange. While some companies demonstrated resilience and growth, others faced challenges amidst evolving market dynamics. Investors should conduct thorough research and risk analysis to make informed investment decisions in Nigeria’s dynamic market environment.