These 5 stocks have bucked the NSE uptrend in 2017

Fig 1: Worst 5 performers on NSE ytd

JAIZ BANK PLC	-52.00%
UNIVERSITY PRESS PLC	-31.60%
FORTE OIL PLC.	-31.35%
7 UP BOTTLING COMP. PLC	-30.07%
A.G. LEVENTIS NIGERIA PLC	-25.00%

Source: Bloomberg

While the broad market NSE all share index has gained 25 percent this year these five stocks have failed to rally and are the worst performers on the exchange.

Jaiz Bank (-52%), University Press (-31.6%), Forte Oil (-31.35%), 7up bottling company (-30.07%), and A.G Leventis Nigeria (-25%) have all had negative returns year to date.

Forte Oil (FO) the largest company among the five in terms of market capitalisation is currently in the process of raising equity capital.

While investors may look for some mean reversal trade, we think it may be largely a tall order for these stocks to rally into positive territory for the rest of the year!