The NGX decelerated in the second quarter of 2024, following a scorching start to the year. As of June 14, 2024, the market has a 33.64% year-to-date return with an All-Share Index of 99,925.29. The 39.84% YTD return attained at the conclusion of Q1 2024 stands in contrast to this. The market has attempted to recover from a very negative April, which is connected to the slowdown in Q2 2024, in May and June.
As of June 14, 2024, the NGX started the month with an ASI of 99,300.38 points, and as of now, it has returned 0.63% thus far. The 2.99% increase and the 5.09% gain reported by the NGX Oil and Gas Index are responsible for the gains in June. The 2.24% rise in the NGX Pension Index and the 1.39% uptick in the NGX Consumer Goods Index.
Here are the 10 best-performing stocks in the NGX in June so far.
TotalEnergies Marketing Nigeria: +20.96%
The gain posted by TotalEnergies has been instrumental to the 5.09% gain recorded so far by the NGX Oil and Gas Index in June. The stock has gained 20.96% this month, with its share price hitting N388.90 from N321.50. TotalEnergies has posted a year-to-date gain of 1.01%. It started 2024 with a share price of N385; however, after posting a 10% decline in January and a 7.22% decline in April, it slid to N321.50.
Guinness Nigeria: +21.59%
Guinness Nigeria Plc gained 21.59% in June, with its share price moving from N49.55 to N60.25 during the month. Year-to-date, Guinness Nigeria has lost 8.71%, as it started 2024 with a share price of N66.00. Since the announcement of Tolaram’s takeover of the company, its share price has surged by 19.19%, rising from N50.55.
FTN Cocoa Processors: +24.55%
Between June 3 and June 14, FTN Cocoa gained 24.55%, as its share price moved from N1.10 to N1.37 within the month. However, year to date, the stock has posted a loss of 7.43%.
Veritas Kapital Assurance: +25.40%
Between June 3 and June 14, Veritas Kapital gained 25.40%, as its share price moved from N0.59 to N0.74 during the period. The stock has achieved a year-to-date return of 100%. In June, VERITASKAP was one of the most traded stocks in the NGX, with an overall turnover volume of 241.678 million shares during the month.
Chams Holding Company: +26.67%
Chams Holdco has gained 26.67% so far in June, with its share price moving from N1.50 to N1.90. After ending 2023 as one of the best-performing stocks in the NGX, Chams Holdco hasn’t enjoyed similar luck in 2024, as it currently holds a 3.52% year-to-date decline. It entered 2024 with a share price of N1.97 before appreciating to N3.35. However, massive selloffs by investors triggered a share price decline.
RT Briscoe: +27.81%
With its share price moving from N0.48 to N0.61, RT Briscoe posted a gain of 27.81% in June. The company started 2024 with a share price of N0.61.
Oando Plc: +28.81%
Oando Plc has posted a 28.81% gain so far, with its share price moving from N11.80 to N15.20 as of June 14.
Year-to-date, Oando Plc has achieved a 44.8% gain, driven by heightened investor interest stemming from improved regulatory compliance, such as the release of its annual results.
Presco Plc: +29.12%
Oil palm company Presco Plc gained 29.12% in June as its share price moved from N267.20 to N345 during the month. June has been quite a busy month for the company as it undergoes a management transition.
In 2024, Presco has presented a year-to-date return of 78.8%.
Regency Assurance Plc: +30.56%
Regency Assurance has recorded a gain of 30.56% this month, with its share price moving from N0.36 to N0.47 between June 3 and June 14. Year-to-date, the stock has posted a return of 23.7%, as it began 2024 with a share price of N0.38.
Deap Capital Management & Trust: +40.00%
Deap Capital gained the most in the NGX in June. With its share price moving from N0.40 to N0.56 as June 14, the stock has gained 40%. The stock, however, has a year-to-date loss of 3.45%, as it suffered a massive slump between January and March 2024.
