For the Nigerian Stock Exchange, the stars of the first quarter of 2019 are ABC Transport, Mcnichols and Dangote Flour respectively, which outperformed other listed stocks as at March 31.
Data obtained by the News Agency of Nigeria indicates that ABC Transport led eight other companies to emerge the best performing stocks in percentage terms during the period under review.
A breakdown of the data shows that the stock, which opened for the year at 29k, closed at 52k per share, indicating an increase of 82.76 per cent.
McNichols came second with a growth of 48.93 per cent, while Dangote Flour appreciated by 48.91 per cent.
Ambrose Omordion, the Chief Operating Officer, InvestData Ltd, attributed ABC’s dominance to low profit attraction in expectation of 2018 full year result.
Omordion said the price appreciation recorded by Mcnichols was due to the small size of its issued shares, low price and 5k dividend.
He attributed the growth of Dangote Flour growth to sentiment and rumour of fresh investments in the company during the review period.
