The Nigerian Change (NGX) posted a average 16.57% year-to-date return within the first half of 2025; a slower tempo in comparison with the 33.81% rally recorded throughout the identical interval final 12 months.
Regardless of this, a number of particular person shares considerably outperformed the broader market, delivering triple-digit returns and signaling investor urge for food for turnaround tales, progress performs, and speculative alternatives.
What drove the outperformance?
- Robust earnings surprises: Many high performers delivered breakout Q1 outcomes that caught the market’s consideration.
- Valuation re-ratings: Traders responded to shares with low historic P/Es and recovering fundamentals.
- Speculative flows: Some penny and illiquid shares gained sharply on sentiment, not simply fundamentals.
- Sector rotation: Agriculture, healthcare, and industrials noticed elevated traction as traders diversified past banking and oil.
From Beta Glass’s fundamentals-backed rally to Good Merchandise’ speculative surge, the primary half of 2025 produced a large mixture of winners; some nonetheless fairly valued, others priced for perfection.
Right here’s a more in-depth have a look at the highest 10 NGX shares by share value efficiency.
SCOA Nigeria Plc is tenth on the record with a year-to-date efficiency of 161.65%. The inventory opened the 12 months at a share value of N2.06 however soared by way of the primary six months to shut at N5.40.
A lot of the bullish motion occurred in January when the inventory powered with a efficiency of 97.57%.
SCOA seems to be like a high-risk, probably high-reward inventory. It has a low valuation based mostly on the income value to gross sales ratio of 0.5, however its excessive PE ratio (22.5x) and strange beta (-0.11) counsel the market could also be pricing in future potential greater than present efficiency.
Traders ought to watch earnings intently.
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