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Best performing stocks so far in June 2024

After beginning 2024 on a blistering note, the NGX slowed down in the second quarter of the year.

With an All-Share Index of 99,925.29 as of June 14, 2024, the market has a year-to-date return of 33.64%.

This is in contrast with the 39.84% YTD return achieved at the end of Q1 2024.

The slowdown in Q2 2024 is linked to a very bearish April, which the market has tried to bounce back from in May and June.

As of June 14, 2024, the NGX has recorded a month-to-date return of 0.63%, having begun the month with an ASI of 99,300.38 points.

The gains recorded in June can be attributed to the 5.09% gain posted by the NGX Oil and Gas Index, the 2.99% increase in the NGX Banking Index, 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.

  1. 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.

  1. 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.

  1. 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%.

  1. 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 has been one of the most traded stocks in the NGX, with an overall turnover volume of 241.678 million shares during the month.

  1. 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.

  1. 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.

  1. 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.

  1. 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%.

  1. 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.

  1. 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.


Source: TheTimes.com.ng.

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