Nigeria’s blue-chip stocks also referred to as NSE 30 stocks are known primarily for being the most capitalized Stocks on the Nigerian stock market.
NSE 30 Stocks are favourites of many traditional and institutional investors mainly for their systematic importance in Africa’s biggest economy, low volatility and more consistent return on investment when compared to low or medium capitalized stocks.
These Stocks account for more than 70% of the total equities valuation of the 2020 best-performing stock market in the world. Investors often increase their buying pressure on them largely because they produce dependable earnings and are often known to pay steady dividends.
Notably, the dividend yield on the NSE30 Index at the end of May 2021 stood at around 6.30%.
Stock market experts reveal that the movement of the prices of these stocks most times influences the market performance upsides or downsides, depending on investors’ sentiments.
The elite list at the time of filing this report has collectively posted yearly gains of about 46%, as investors depend on them more often for surviving economic downturns and operating profitably. This is unsurprisingly why many of them have a record of stable and reliable growth.
Here’s a look at the top five best-performing NSE 30 stocks so far in the year. Lafarge Africa PLC (WAPCO)
The cement conglomerate has defied market expectations amid some headwinds in Nigeria’s real estate sector, by posting strong growth in recurring earnings before interest and taxes in the year 2020 which went up by 30.8% as against the previous year’s result.
Just recently, shareholders of the blue-chip cement brand commended the company for its dividend payout of 100 kobo amid an era of harsh and challenging economic macros.
The Khaled El Dokani-led company posts yearly gains of 87% as the firm affirmed its commitment to deliver superior stakeholder value through innovation, and continuous improvement. First City Monument Bank
The bank posts a yearly return of 80% to its shareholders with recent price patterns showing no sign of stalling its bullish momentum amid a recent report that revealed the company unanimously approved the payment of a dividend of N2.97 billion, translating to 15 kobo per ordinary share for 2020.The fast-growing tier 2 Nigerian bank in its most recent earnings call disclosed that it remains resolute in the face of challenges posed by the resurging COVID-19 pandemic. The most recent financial results have also affirmed customers’ confidence in the Ladi Balogun-led financial powerhouse.Just recently also, […]
