MTNN, UBA, ETI, Zenith, Dangote Cement, others outperform market

Despite record profit taking seen two days ago on the Nigerian Bourse, the stock market still showed impressive level of positive returns at +9.09 percent year-to-date (YTD). While tracking equities performance this year, INVESTOR found stocks that have outperformed the NSE benchmark indicator – the All Share Index (ASI).

The share prices of UACN, MTNN, Okomu, UBA, ETI, Zenith, Flourmills, Dangote Cement, C& I Leasing, Africa Prudential, Cornerstone Insurance, Ekocorp, FBN Holdings, May & Baker, Nascon,, Vitafoam, and Unity Bank have increased well above 10 percent this year.

“We expect demand in high dividend-paying stocks, example MTN, Zenith, UBA as well as interest in Dangote Cement and BUA Cement due to recent corporate action to sustain moment in the equities market. However, we do not rule out profit-taking,” according to Lagos-based analysts at United Capital.

“We expect a mixed performance as investors are likely to take profits due to relatively high stock prices”, said Afrinvest Research analysts in their January 13 note.

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The NSE ASI closed in the red on Tuesday January 14, thereby opposing the record bullish performance seen in previous trading days of this year.

As at that date, investors have made money in stocks like Access Bank which shows price gain of +5 percent year-to-date ( YTD),

Africa Prudential (+15percent), AIICO (+6.9percent), Beta Glass (+9.7percent), and recently listed BUA Cement (+11.3percent).

CAP Plc share price has gained + 4.2perent this year, Caverton ( + 9 p e rc e n t ) , C ha m p i o n Breweri e s ( + 3 . 2 p e rcent ) ,

Chams (+ 3percent), and C& I Leasing (+ 24.6percent). The rally year- to- date has also favoured investors in Conoil (+ 8.1percent), Cornerstone Insurance (+ 17.8percent ) , Cutix (+ 7.5percent), Dangote Cement (+19.7percent), Dangote

Sugar (+ 8.8percent), Ekocorp ( + 22.4 p e rcent ) , and ETI (+20percent).

Other stocks that have impressed the market this year and the rate of their increase are FBN Holdings (+13.8percent), FCMB (+ 3.8percent), Fidelity Bank (+ 2.4percent), Flour Mills (+ 21.8percent), Gtbank (+ 6.4percent), Honeywell (+ 4percent), and Jaiz Bank (+3.2percent).

Also included in the basket of equities with prices showing positive trajectory this year are Julius Berger (+ 9.8percent), Lasaco (+ 8percent), Learn Africa (+7.1percent), Livestock Feeds ( 10percent), AXA Mansard (+ 8.1percent), May & Baker (+ 12.4percent), MTNN (+18.3percent), Nahco (+ 1.7percent), and Nascon (+15.8percent).

The list of positively performing stocks shows NPF Microfinance Bank (+7percent), Okomu Oil Palm (+ 18.7percent), Presco (+10percent), PZ (+3.5percent), Royal Exchange ( 10percent), Sovereign Trust Insurance (10percent), Stanbic (+3.7percent), Transcorp ( + 4 percent ) , UACN (+ 28.5percent), UBA (+ 15.4percent), Union Bank (+ 2.5percent), United Capital (+ 8.7percent), Unity Bank (+ 12.5percent), University Press (+ 1.6percent), Vitafoam (+10.9percent), Wa pic ( 5.9percent) and Zenith Bank (+14.5percent).