Top 10 Best Performing Nigerian Stocks at Christmas 2023

In the spirit of the season, reminiscent of the journey of the three wise men, investors in the Nigerian Stock Exchange have traversed an economic landscape full of challenges and opportunities.

Bearing gifts of incisive strategy and foresight, akin to the precious offerings of gold, frankincense, and myrrh, these market-savvy individuals have seen their portfolios blessed by the stellar performances of certain stocks.

As we gather to celebrate Christmas, it’s fitting to acknowledge the ‘gifts’ that the NSE 30 stocks have bestowed upon their shareholders.

These top ten best-performing stocks, excluding the usual volatility of penny stocks, have been like guiding stars, leading to profitable havens.

From the financial sector’s bountiful yields to the sweet success of food producers and the warm reception in hospitality, each stock has a story to tell.

Presented in ascending order, these are the market’s shining beacons as we close out the year, each company reflecting the glow of wise investments made and prosperity earned in 2023.

Note: This list focusses on NSE 30 stocks excluding penny stocks that may have performed better.

10. Ecobank Transnational Incorporated (ETI)

Sector: Banking and Financial Services

YtD % ∆: 114.2%

Description: As a pan-African banking conglomerate, ETI provides a range of banking products and services to its vast customer base across many African countries.

9. Fidelity Bank Plc (FIDELITYBK)

Sector: Banking and Financial Services

YtD % ∆: 117.2%

Description: Fidelity Bank offers commercial and retail banking services, including electronic banking, which has contributed to its solid year-to-date growth.

8. Access Holdings Plc (ACCESSCORP)

Sector: Banking and Financial Services

YtD % ∆: 161.2%

Description: Access Holdings is recognized for its extensive banking operations, providing an array of services from personal banking to corporate finance, sustaining a strong growth trajectory throughout the year.

7. Geregu Power Plc (GEREGU)

Sector: Energy and Power

YtD % ∆: 167.8%

Description: Specializing in energy generation and distribution, Geregu Power has maintained its market position by delivering reliable power solutions in Nigeria.

6. Sterling Financial Holdings Company Plc (STERLINGNG)

Sector: Financial Services

YtD % ∆: 198.6%

Description: This financial holding company is making strides with its investment in various sectors, contributing to its impressive year-to-date growth.

5. BUA Foods Plc (BUAFOODS)

Sector: Agribusiness and Food Production

YtD % ∆: 206.0%

Description: BUA Foods is a major player in the food production industry, with a focus on the manufacturing of sugar, flour, and pasta, which has fueled its growth this year.

4. United Bank for Africa Plc (UBA)

Sector: Banking and Financial Services

YtD % ∆: 217.8%

Description: UBA has a strong presence across Africa, providing a full range of banking services that have appealed to both individual and corporate clients, aiding its substantial growth.

3. Dangote Sugar Refinery Plc (DANGSUGAR)

Sector: Food and Beverages

YtD % ∆: 258.3%

Description: As part of the Dangote Group, Dangote Sugar Refinery is one of the leading sugar manufacturers in Africa, with a significant contribution to the Nigerian economy.

2. Transnational Corporation Plc (TRANSCORP)

Sector: Conglomerate

YtD % ∆: 515.9%

Description: TRANSCORP operates in various sectors including power, hospitality, and agriculture, which has seen substantial growth, particularly in its energy investments.

1. Transcorp Hotels Plc (TRANSCOHOT)

Sector: Hospitality and Tourism

YtD % ∆: 650.4%

Description: As part of the Transnational Corporation, Transcorp Hotels leads the hospitality sector in Nigeria, offering luxury accommodation and conference facilities that have seen unparalleled growth over the year.