Unity Bank, Dangote Sugar Among List of Companies Stocks Underperforming on the Nigerian Exchange

Unity Bank, Dangote Sugar Among List of Companies Stocks Underperforming on the Nigerian Exchange

  • According to the Nigerian Exchange, there are over 156 listed firms with a total market capitalization of over N21 trillion
  • While some companies' stocks have made billions for shareholders, many are left to count their losses
  • As the year draws to a conclusion, many people's prospects of recovering are dwindling, while others will just have to wait and expect a rebound

The list of stocks that have underperformed since the start of 2021 has been disclosed as of Monday, November 8th.

According to a report by BusinessDay, there are notable companies listed on the Nigerian exchange that are not keeping pace with the growth in the market which has improved by +7.39% from January 1, 2021 to November 8, 2021.

Notable companies stocks underperforming include Nigerian Breweries Plc (-6.3percent), Stanbic IBTC Plc (-11.5percent), Sterling Bank Plc (-26.5percent), Nestle Nigeria Plc (-7percent), FCMB Group Plc (-8.4percent).

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Companies Underperforming On The Nigerian Stock Exchange
Stock traders Credit: Nigerian exchange
Source: UGC

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Others are C& I Leasing (-8.7percent), GlaxoSmithKline Consumer Nigeria Plc (-7.2percent), Union Bank of Nigeria Plc (-6.5percent), and International Breweries Plc (-6.7percent).

More stocks underperforming below when compared to their prices at the beginning of this year 202

Unity Bank (-14.1percent) is also another stock underperforming on the Nigerian exchange.

Others include Union Dicon Salt Plc (-9.6percent), Sunu Assurance Nigeria Plc (-50percent), SCOA Nigeria Plc (-64.5percent), Neimeth International Pharmaceuticals Plc (-19.3percent), Japaul Gold and Ventures Plc (-33.9percent), Ikeja Hotel Plc (-4.2percent), FTN Cocoa Processors Plc (-39.4percent), Nigerian Enamelware Company Plc (-26.7percent), Dangote Sugar Refinery Plc (-5.1percent), CWG Plc (-59.8percent).

Other laggards this year are Caverton Offshore Support Group Plc (-8.8percent), Chams Plc (-4.3percent), Beta Glass Plc (-4.4percent), BUA Cement Plc (-3.7percent), Africa Prudential Plc (-3.2percent), CAP Plc (-2.5percent), Abbey Mortgage Bank Plc (-9.5percent) and ABC Transport (-21.1percent).

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Dangote Cement, MTN Nigeria Lead List of the 10 Biggest Companies on the Nigerian Exchange

Legit.ng had earlier reported that Dangote Cement and MTN Nigeria are the two biggest publicly listed companies in Nigeria as of October 2021.

The two firms are among the five biggest companies in the exclusive club of over N1 trillion market capitalisation.

Using data from Nigeria Exchange the report showed how much each of the top firms are worth and their share price for anyone looking to invest.

Source: Legit.ng

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