Despite the paltry returns of the Banking sector index, Wema Bank has led the chart as the best-performing Nigerian stock in the year 2022 posting a return of 441.67%.
Penny Stock Champion Breweries came second with a 134% return while PZ Cussons, Guinness, and Fidelity Bank came third, fourth, fifth, and sixth respectively.
On the loser’s side was Honeywell with a 31% loss at year-end. Nestle, Beta Glass and Custodian, and Allied also joined as worst stocks for 2022.
Meanwhile, the growth of market capitalisation was boosted by the listing of BUA Foods Plc and Geregu Power Plc during the period under review.
A total of 18 billion ordinary shares of BUA Foods were listed at N40.00 per share under the Consumer Goods sector of NGX, with the trading symbol, BUAFOODS at the beginning of the year.
The listing of the shares added N720,000,000,000 to the market capitalization of NGX, further boosting liquidity in the Nigerian capital market and providing opportunities for wealth creation.