BUA cement, Dangote cement, May & Baker, NEM top list of stocks to watch this week

Two cement stocks, BUA cement and Dangote cement are amongst the list of stocks to watch out for this week followed by equities of healthcare company May and Baker and insurance stock NEM Insurance PLC.

The market performance for the week increased by 13.84% to 94,538.12 from 83,042.96 recorded at the beginning of the week driven by strong performances by BUA CEMENT (+45.80%), DANGOTE CEMENT (+53.94%), MAYBAKER (+50.46%), NEM (+39.13%), and GEREGU (+17.72%), offsetting losses in GTCO (-4.75%), FBNH (-5.00%), STANBIC (-4.41%), UCAP (-6.27), MULTIVERSE (-6.59%), CUSTODIAN (-4.93%), and IKEJAHOTEL (-10.57%).

Overall, 81 equities gained for the week, while 58 equities depreciated, and 16 remained unchanged.

Kindly note that Ripples Nigeria Stocks to watch is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

BUACEMENT • 148.50 ▴ 13.50 (10%)

The current share price of BUA Cement Plc (BUACEMENT) is NGN 148.50. BUACEMENT closed its last trading day (Friday, January 19, 2024) at 148.50 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 135.00 NGN. BUA Cement began the year with a share price of 97.00 NGN and has since gained 53.1% on that price valuation, ranking it 21st on the NGX in terms of year-to-date performance.

BUA Cement is the 76th most traded stock on the Nigerian Stock Exchange over the past three months (Oct 20, 2023 – Jan 19, 2024). BUACEMENT has traded a total volume of 50.7 million shares—in 5,705 deals—valued at NGN 5.59 billion over the period, with an average of 804,100 traded shares per session. A volume high of 12.1 million was achieved on January 18th, and a low of 9,827 on November 16th, for the same period.

READ ALSO:Berger, Buafood, Dangote Sugar, Zenith Bank top lists of stocks to watch this week

DANGCEM • 538.80 ▴ 48.90 (9.98%)

The current share price of Dangote Cement (DANGCEM) is NGN 538.80. DANGCEM closed its last trading day (Friday, January 19, 2024) at 538.80 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 489.90 NGN. Dangote Cement began the year with a share price of 319.90 NGN and has since gained 68.4% on that price valuation, ranking it 14th on the NGX in terms of year-to-date performance.

Dangote Cement is the 82nd most traded stock on the Nigerian Stock Exchange over the past three months (Oct 20, 2023 – Jan 19, 2024). DANGCEM has traded a total volume of 39.4 million shares—in 6,035 deals—valued at NGN 13.5 billion over the period, with an average of 625,346 traded shares per session. A volume high of 16.5 million was achieved on December 1st, and a low of 10,446 on November 24th, for the same period.

MAYBAKER • 8.26 ▴ 0.75 (9.99%)

The current share price of May & Baker Nigeria (MAYBAKER) is NGN 8.26. MAYBAKER closed its last trading day (Friday, January 19, 2024) at 8.26 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 7.51 NGN. May & Baker began the year with a share price of 5.25 NGN and has since gained 57.3% on that price valuation, ranking it 20th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about MAYBAKER knowing the stock has accrued an outstanding 64% over the past four-week period alone—23rd best on NGX.

May & Baker Nigeria is the 78th most traded stock on the Nigerian Stock Exchange over the past three months (Oct 20, 2023 – Jan 19, 2024). MAYBAKER has traded a total volume of 44.8 million shares—in 2,064 deals—valued at NGN 252 million over the period, with an average of 710,339 traded shares per session. A volume high of 4.21 million was achieved on January 10th, and a low of 13,019 on December 6th, for the same period.

NEM • 8.00 ▾ 0.25 (3.03%)

The current share price of N.E.M. Insurance Company (NEM) is NGN 8.00. NEM closed its last trading day (Friday, January 19, 2024) at 8.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 3% drop from its previous closing price of 8.25 NGN. N.E.M. began the year with a share price of 6.30 NGN and has since gained 27% on that price valuation, ranking it 52nd on the NGX in terms of year-to-date performance. Shareholders can be optimistic about NEM knowing the stock has accrued 50% over the past four-week period alone—36th best on NGX.

N.E.M. Insurance Company is the 77th most traded stock on the Nigerian Stock Exchange over the past three months (Oct 20, 2023 – Jan 19, 2024). NEM has traded a total volume of 46.6 million shares—in 1,190 deals—valued at NGN 279 million over the period, with an average of 739,531 traded shares per session. A volume high of 12.6 million was achieved on November 29th, and a low of 1,180 on November 6th, for the same period.

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