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Neimeth, AG Leventis worst performing stocks for September




Neimeth Pharmaceuticals, AG Leventis and First Aluminum emerged worst performing stocks in percentage terms on the Nigerian Stock Exchange (NSE) for the month of September.


News Agency of Nigeria (NAN) reports that Neimeth is the worst performed stock in percentage terms, dropping by 21.84 percent to close at 68 kobo per share on the Exchange.


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AG Leventis came second with a loss of 16.90 percent to close at 59 kobo against the opening price of 71 kobo, while First Aluminum lost 16.67 percent to close at 50 kobo compared with 66 kobo it achieved in August.


The data also showed that Julius Berger dipped 14.24 percent to close at N29.33 in contrast to N34.20 opening price, while Presco shed 13.73 percent to close at N59 against N68.39 in August.


Oando dropped 13.43 per cent to close at N5.93 per share in contrast to N6.85 in August and Skye Bank shed 13.11 percent to close at 53 kobo against 61 kobo in the preceding month.


Mr. Ambrose Omordion, the Chief Operating Officer, InvestData Ltd., attributed Neimeth’s loss to profit taking.


Omordion blamed price depreciation by AG Leventis and First Aluminum on weak quarterly numbers and profit taking, respectively.


However, according to the report gathered by NAN reports, C&I Leasing become the month’s best-performing stock, appreciating by 53.77 percent to close at N1.63 per share against the opening price of N1.06.


Omordion said that C & I Leasing rally was on the strength of market sentiments and its strong quarterly numbers that hit the market during the period.


Newrest ASL came second with a growth of 26.06 percent to close at N7.16 compared with N5.68 in August, while Guinness grew by 23.42 percent to close at N95.01 against N76.98 in August.


Nem Insurance followed, appreciating by 17.17 percent to close at N1.16 against the opening price of 99 kobo, and Cutix grew by 13.12 percent to close at N2.50 per share, having opened for August at N2.21.


Africa Prudential rose by 12.54 percent to close the month at N3.50 against N3.11 in August, while Continental Reinsurance grew by 11.94 percent to close at N1.50 compared with N1.34 per cent in August.

Credits: NAN



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