Despite the unprecedented bear run that has hit the market, about 20 stocks have sustained their positive momentum to remain in the bulls’ territory. The market has been under sell pressure to record seven straight days of decline, driving the year-to-date (YTD) decline of the Nigerian Stock Exchange (NSE) All-Share Index to 10.97 per cent as at Monday.
However, THISDAY checks showed that some stocks have defied the bear run and have fetched investors YTD gains. The stocks are led by Dangote Flour Mills Plc which boasts of gain of 236 per cent.
United Capital Plc and Total Nigeria Plc trailed with 83 per cent apiece, while Seplat Petroleum Development Company Plc and E-Tranzact Plc garnered 68 per cent each. Eterna Plc has gained 53 per cent, just as Union Dicon Salt Plc has gained 39.2 per cent. Okomu Oil Palm Plc has appreciated by 38.6 per cent, while Conoil Plc, Airline Services and Logistics Plc, and Presco Plc rose by 37 per cent, 33 per cent and 32.8 per cent in that order.
Others are: DN Meyer Plc( 30 per cent);United Bank for Africa Plc (25 per cent);International Breweries Plc (21.9 per cent); A.G Leventis Plc (19.3 per cent); Cutix Plc, Mobil Oil Nigeria Plc (19 per cent apiece); Guaranty Trust Bank Plc (16 per cent);Access Bank Plc ( 14 per cent) and Unilever Nigeria Plc (11 per cent).
Some of the companies have reported impressive results for the nine months ended September 30, 2016 despite the economic headwinds, a development, market analysts said must have informed the sustained demand that has made them to record positive YTD performance.