Top 5 Best-Performing Stocks on NGX in 2024
Overview:
2024 has been a rollercoaster year for investors on the Nigerian Exchange (NGX). The year began with a bang as the All-Share Index (ASI) hit a historic 100,000-point milestone in January. However, market challenges, including reactions to banking recapitalization and a windfall tax on banks, led to fluctuations. Despite these hurdles, stellar performances from select companies stood out, rewarding investors with impressive returns.
Top 5 Performing Stocks in 2024:
1. Juli Plc – 1,646% Growth
• Start Price: ₦0.59
• End Price (Dec 16): ₦10.30
• Highlights:
• Early growth surge between February and March (1,383% gain).
• Current price peaked on July 29 after a 9% daily increase.
• An investment of ₦10,000 at the start of 2024 is now worth ₦164,600!
2. Oando Plc – 556% Growth
• Start Price: ₦10.50
• End Price (Dec 16): ₦68.90
• Highlights:
• Major growth occurred between July and August (413% jump).
• Reached a decade-high of ₦95.50 in September before market corrections.
• Boosted by audited financials for 2022/2023 and the acquisition of Eni’s NAOC, strengthening its asset base and income profile.
3. Eunisell Interlinked – ️ 502% Growth
• Start Price: ₦3.20
• End Price (Dec 16): ₦19.27
• Highlights:
• Unexpected success story of the year.
• Driven by a 564% surge in Q4, following a 1,000% profit increase for the financial year ending June 30, 2024.
4. Sunu Assurances – 454% Growth
• Start Price: ₦1.10
• End Price (Dec 16): ₦6.09
• Highlights:
• Best-performing stock in the financial services sector.
• Net profit for Q3 2024 soared to ₦4.8 billion (a 145% YoY increase).
5. Transnational Corporation (Transcorp) – 406% Growth
• Start Price: ₦8.66
• End Price (Dec 16): ₦43.80
• Highlights:
• Delivered 666% returns in FY 2023, continuing strong into 2024.
• Cumulative two-year return of 3,776%.
• Backed by robust performances of its subsidiaries, Transcorp Hotels and Transcorp Power.
Key Takeaways:
1. Juli Plc’s Remarkable Surge: This year’s top performer, with over 1,600% returns, reflects the potential for exponential growth in strategic investments.
2. Sectoral Winners: Stocks like Sunu Assurances led in the financial services space, while conglomerates like Transcorp showed resilience.
3. Late-Year Rallies: Companies like Eunisell Interlinked demonstrated the impact of strategic Q4 performance.
️ Looking Ahead:
With fewer than 10 trading days left in 2024, these results highlight the importance of timely decisions, investor confidence, and strategic market moves. Which stock are you rooting for in 2025? Share your thoughts below!
Overview:
2024 has been a rollercoaster year for investors on the Nigerian Exchange (NGX). The year began with a bang as the All-Share Index (ASI) hit a historic 100,000-point milestone in January. However, market challenges, including reactions to banking recapitalization and a windfall tax on banks, led to fluctuations. Despite these hurdles, stellar performances from select companies stood out, rewarding investors with impressive returns.
Top 5 Performing Stocks in 2024:
1. Juli Plc – 1,646% Growth
• Start Price: ₦0.59
• End Price (Dec 16): ₦10.30
• Highlights:
• Early growth surge between February and March (1,383% gain).
• Current price peaked on July 29 after a 9% daily increase.
• An investment of ₦10,000 at the start of 2024 is now worth ₦164,600!
2. Oando Plc – 556% Growth
• Start Price: ₦10.50
• End Price (Dec 16): ₦68.90
• Highlights:
• Major growth occurred between July and August (413% jump).
• Reached a decade-high of ₦95.50 in September before market corrections.
• Boosted by audited financials for 2022/2023 and the acquisition of Eni’s NAOC, strengthening its asset base and income profile.
3. Eunisell Interlinked – ️ 502% Growth
• Start Price: ₦3.20
• End Price (Dec 16): ₦19.27
• Highlights:
• Unexpected success story of the year.
• Driven by a 564% surge in Q4, following a 1,000% profit increase for the financial year ending June 30, 2024.
4. Sunu Assurances – 454% Growth
• Start Price: ₦1.10
• End Price (Dec 16): ₦6.09
• Highlights:
• Best-performing stock in the financial services sector.
• Net profit for Q3 2024 soared to ₦4.8 billion (a 145% YoY increase).
5. Transnational Corporation (Transcorp) – 406% Growth
• Start Price: ₦8.66
• End Price (Dec 16): ₦43.80
• Highlights:
• Delivered 666% returns in FY 2023, continuing strong into 2024.
• Cumulative two-year return of 3,776%.
• Backed by robust performances of its subsidiaries, Transcorp Hotels and Transcorp Power.
Key Takeaways:
1. Juli Plc’s Remarkable Surge: This year’s top performer, with over 1,600% returns, reflects the potential for exponential growth in strategic investments.
2. Sectoral Winners: Stocks like Sunu Assurances led in the financial services space, while conglomerates like Transcorp showed resilience.
3. Late-Year Rallies: Companies like Eunisell Interlinked demonstrated the impact of strategic Q4 performance.
️ Looking Ahead:
With fewer than 10 trading days left in 2024, these results highlight the importance of timely decisions, investor confidence, and strategic market moves. Which stock are you rooting for in 2025? Share your thoughts below!
