FBN Holdings, Tantalizer and Transcorp are stocks to watch

Trading activities return to the Nigerian stock market this week and some of the stocks to watch are First Bank Nigeria (FBN) Holdings, Tantalizer and Transcorp Plc.

Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

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

FBN Holdings

First Bank Nigeria (FBN) Holdings made the list following a selloff by the financial institution’s Investor Relations Head, Tolu Oluwole, during stock trading last week.

During last week Wednesday’s session, Oluwole sold 1.60 million shares held in FBN Holdings. This means the top official took out N28.86 million invested in the financial institution.

He took out his investment in the same week FBN Holdings’ share fell by 12 per cent, as decline in investors confidence in FBN Holdings sent the firm’s share down to N16.55 kobo, from N18.8 kobo within one week.

Due to the position Oluwole occupy in FBN Holdings, his selloff could send a negative signal to the capital market, affecting the stock investors’ confidence in the firm going forward.

So investors should trade with caution this week, as FBN Holdings share fell by 8.05 per cent between Wednesday and Friday after Oluwole sold his shares, compared to the 4.25 per cent decline recorded between Monday to Wednesday.

READ ALSO:FBN Holdings fined for failing to comply with regulation, posts N187bn net profit

Tantalizer

Tantalizer shareholders lost 27.50 per cent of their investment value within five days last week, resulting in the company closing trading as the top decliner in the stock market.

The shareholders lost a combined N353.27 million during trading last week, as demand for the company plunges, dragging Tantalizer’s share price to N0.29 kobo on Friday, compared to N0.40 kobo posted upper Friday.

Following the loss, Tantalizer stopped being a billion naira-worth of equity, as the company’s market valuation depreciated to N931.37 million, from N1.28 billion.

Amid the decline in the company’s share value, the capital market needs to trade with caution when dealing with Tantalizer’s stock this week.

Transcorp Plc

Transcorp Plc ended last week as one of the best performing stock after shareholders of the Company recorded 39.42 per cent increase in the value of their investment.

According to analysis of the investment growth, the increase represents N66.66 billion combined gain, however, it also made Transcorp’s share pricey for those looking to buy at a lower rate.

Note that Transcorp’s share costs N4.16 kobo at the close of trading two weeks ago but the rate increased on the back of high demand to N5.80 kobo last week Friday, raising the value of shareholders investments along the week.

However, also note that the increase in investment value could attract profit-takers, which could result in selloffs and plunging of Transcorp’s share price, so trade with caution towards the firm’s stock.

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