As of November 30, 56 stocks listed on the Nigerian Exchange (NGX) outperformed the All-Share Index (ASI) year-to-date (YTD), according to Nairametrics Research.
These stocks grew at a faster rate than the ASI, which recorded a 30.40% YTD increase, rising from 74,773.77 points to 97,506.87 points.
Of the 56 outperforming stocks, 13 each were from Services and Financial Services (mainly insurance and non-banking institutions), six from Oil & Gas, five each from Consumer and Industrial Goods, and four from Conglomerates, with other sectors having fewer than four.
No ICT stock outperformed the market.
The top-performing stock was JULI, with a 1,645.76% surge in share price from N0.59 to N10.30. At the lower end, JAPAULGOLD experienced a 31.55% increase, climbing from N21.10 to N32.70.
Here are the top 10 stocks that outperformed the market.
10. VERITASKAP (Financial Services Sector)
- Veritaskap surged 224.32% YTD, rising from N0.37 to N1.20, but experienced a -16.67% month-to-date (MTD) drop in November.
- Operating in the Insurance Carriers, Brokers sub-sector, the company posted a strong H1 2024 performance with N5.2 billion pre-tax profit (+413.6% YoY) and 330.54% revenue growth.
- The stock’s 52-week high was N1.80, and the low was N0.33.
9. CONOIL (Oil and Gas Sector)
- Conoil gained 228.96% YTD, climbing from N83.90 to N276, and had a strong 45.80% MTD performance in November.
- Operating in the Petroleum and Petroleum Production sub-sector, the company reported a 13.34% rise in pre-tax profit for Q2 2024 and N5.02 billion pre-tax profit in Q3.
- The stock’s 52-week high was N320, and the low was N78.
8. SUNUASSUR (Financial Services Sector)
- Sunu Assurance surged 236.21% YTD, rising from N1.16 to N3.90, with a 86.60% MTD gain in November.
- Operating in the Insurance sub-sector, the company paid N2.08 billion in customer rewards in 2023, a 41.5% increase from 2022, and declared a N0.05 dividend.
- The stock’s 52-week high was N5.44, with a low of N1.00.
7. JOHNHOLT (Conglomerate Sector)
- John Holt soared 284.48% YTD, climbing from N2.32 to N8.92, with a notable 197.33% MTD rise in November alone.
- In the Diversified Industries sub-sector, the company reversed a prior pre-tax loss with a N2.4 billion profit in Q4, alongside an 81.7% revenue increase.
- Its 52-week high was N11, and the low was N1.98.
6. RTBRISCOE (Services Sector)
- RT Briscoe surged 309.84% YTD, rising from N0.16 to N2.50, though it declined by 18.03% MTD in November.
- Operating in the Automobile/Auto Parts Retailers sub-sector, the company launched Nigeria’s first SEC-approved money market fund.
- Its 52-week high was N4.33, and the low was N0.43.
5. JBERGER (Construction/Real Estate Sector)
- JBERGER surged 333.42% YTD, rising from N39.80 to N172.50, with a slight 1.47% MTD increase in November.
- Operating in the Infrastructure/Heavy Construction sub-sector, the company saw a 12.08% increase in Q2 profit and recorded N1 billion pre-tax profit in Q3 2024.
- Its 52-week high was N172.60, and the low was N34.40.
4. TRANSCORP (Conglomerate Sector)
- Transcorp soared 394.32% YTD, rising from N8.80 to N43.50, though it fell 3.33% MTD in November.
- Operating in the Diversified Industries sub-sector, the company launched Transcorp Power in March and announced a share reconstruction in October.
- Its 52-week high was N53.45, and the low was N6.52.
- Eunisell soared 502.19% YTD, jumping from N3.20 to N19.27, with a spectacular 277.10% MTD gain in November alone.
- A leader in providing engineering services for Nigeria’s electricity, telecommunications, and energy sectors, the company reported a 160.74% revenue growth and a staggering 1031.64% increase in Profit After Tax for 2024.
- The 52-week high is N19.27, and the low is N2.61.
- Oando skyrocketed by 518.57%, rising from N10.50 to N64.95, though it saw a 27.55% MTD drop in November.
- As part of the Integrated Oil and Gas Services sub-sector, Oando completed a $783 million acquisition of Agip Oil and participated in the $550 million Project Gazalle.
- The stock’s 52-week high is N98.40, and the low is N8.30.
- JULI saw an astonishing 1645.76% surge, climbing from N0.59 to N10.30 in Q1. However, the stock price remained flat in November.
- Part of the Food/Drug Retailers and Wholesalers sub-sector, Juli specializes in pharmaceuticals, supermarkets, and laboratory services.
- The sharp price spike in January and February coincided with a rise in medication prices, driven by major pharmaceutical companies exiting the market and shifting to third-party distribution—creating a boost in sentiment for the stock. Despite the surge, there’s no fundamental change in the company’s structure as earlier reported by Nairametrics.
- The 52-week high is N10.30, and the low is N0.59.
