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Dangote Sugar, ETI, Okomu Oil, May and Baker top list of stocks to watch this week

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It was a week to forget on the floor of the Nigerian Xchange (NGX) as investors endured four days of trading losses culminating in the loss of N622bn as market capitalization dropped to N58.50trn from N59.12trn in the previous week.

Similarly, the benchmark All-Share Index (ASI) also fell by -1.08% to 103,437.67 points from 104,562.06 points the previous week.

However, amid the bearish trading, Dangote Sugar, ETI, Okomu Oil, May and Baker, others to posted strong performances to make them stocks to watch in the new week.

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.

DANGSUGAR • 59.00 ▴ 3.00 (5.36%)

The current share price of Dangote Sugar Refinery (DANGSUGAR) is NGN 59.00. DANGSUGAR closed its last trading day (Friday, April 5, 2024) at 59.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 5.4% gain over its previous closing price of 56.00 NGN. Dangote Sugar Refinery began the year with a share price of 57.00 NGN and has since gained 3.51% on that price valuation, ranking it 73rd on the NGX in terms of year-to-date performance. Shareholders can be optimistic about DANGSUGAR knowing the stock has accrued 28% over the past four-week period alone—sixth best on NGX.

Dangote Sugar Refinery is the 29th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 8 – Apr 5, 2024). DANGSUGAR has traded a total volume of 248 million shares—in 21,529 deals—valued at NGN 16.3 billion over the period, with an average of 3.94 million traded shares per session. A volume high of 12.7 million was achieved on February 27th, and a low of 742,881 on February 14th, for the same period.

READ ALSO:NGX: C&I Leasing, Tantalizer, Unity Bank’s stocks tumble as investors shed N252bn

ETI • 26.00 ▪ 0.00

The current share price of Ecobank Transnational Inc (ETI) is NGN 26.00. ETI closed its last trading day (Friday, April 5, 2024) at 26.00 NGN per share on the Nigerian Stock Exchange (NGX). Ecobank began the year with a share price of 20.90 NGN and has since gained 24.4% on that price valuation, ranking it 31st on the NGX in terms of year-to-date performance. Shareholders can be optimistic about ETI knowing the stock has accrued 20% over the past four-week period—14th best on NGX.

Ecobank Transnational is the 46th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 8 – Apr 5, 2024). ETI has traded a total volume of 139 million shares—in 4,128 deals—valued at NGN 3.51 billion over the period, with an average of 2.2 million traded shares per session. A volume high of 18.8 million was achieved on February 9th, and a low of 101,459 on February 16th, for the same period.

MAYBAKER • 6.55 ▪ 0.00

The current share price of May & Baker Nigeria (MAYBAKER) is NGN 6.55. MAYBAKER closed its last trading day (Friday, April 5, 2024) at 6.55 NGN per share on the Nigerian Stock Exchange (NGX). May & Baker began the year with a share price of 5.25 NGN and has since gained 24.8% on that price valuation, ranking it 29th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about MAYBAKER knowing the stock has accrued 28% over the past four-week period alone—fifth best on NGX.

May & Baker Nigeria is the 71st most traded stock on the Nigerian Stock Exchange over the past three months (Jan 8 – Apr 5, 2024). MAYBAKER has traded a total volume of 56.3 million shares—in 2,882 deals—valued at NGN 372 million over the period, with an average of 893,559 traded shares per session. A volume high of 4.79 million was achieved on January 29th, and a low of 23,468 on March 28th, for the same period.

OKOMUOIL • 247.00 ▴ 4.00 (1.65%)

The current share price of Okomu Oil Palm (OKOMUOIL) is NGN 247.00. OKOMUOIL closed its last trading day (Friday, April 5, 2024) at 247.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 1.6% gain over its previous closing price of 243.00 NGN. Okomu Oil Palm began the year with a share price of 260.00 NGN but has since lost 5% off that price valuation, ranking it 125th on the NGX in terms of year-to-date performance.

Okomu Oil Palm is the 92nd most traded stock on the Nigerian Stock Exchange over the past three months (Jan 8 – Apr 5, 2024). OKOMUOIL has traded a total volume of 12.3 million shares—in 3,157 deals—valued at NGN 3.23 billion over the period, with an average of 194,568 traded shares per session. A volume high of 2.11 million was achieved on January 11th, and a low of 6,537 on March 11th, for the same period.

By: Babajide Okeowo

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