Financial services sector dominates 2016 penny stocks

Stocks from the financial services sector dominated the list of penny stocks at the Nigerian Stock Exchange (NSE) in 2016.

Penny stocks are considered as stock trading below N5. They are usually the toast of investors as they are one of the means through investors can make much profits in stock trading most especially when a new promoter decides to buy such stocks and they begin to rally.

Currently, there are one hundred and twenty-seven (127) of such stocks on NSE as at 19th December, 2016, Invest Advocate reports.

The financial services sector led with forty-eight stocks, while services sector had twenty-three stocks. Healthcare and Consumer Goods has ten and nine stocks respectively. Agriculture, Construction/Real Estate and Natural Resources sectors have three (3) each.

Out of the 127 stocks that made the list, seventeen (17) currently records positive YTD returns while fifty-four (54) records negative YTD returns.

DANGFLOUR tops the list of the positives with +252.21% YTD gain while SKYEBANK tops the list of the negatives with -68.35% loss.