FTN Cocoa, RT Briscoes, Guinness, Nem, top list of stocks to watch this week

Bearish sentiment persisted in the market past week with investors incurring N1.57trn in losses as market capitalization dipped to N56.30trn from N57.86trn recorded the previous week.

Similarly, the benchmark All-Share Index (ASI) fell -2.71% to 99,539.75 points from 102,314.56 points the previous week, signalling its fifth consecutive weekly losses.

Amid the bearish sentiment, stocks like FTN Cocoa Processors, RT Briscoes, Guinness, NEM Insurance and others still post strong performances to make them stocks to watch in the new week as trading activities open in a few hours.

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.

FTNCOCOA • 1.37 ▴ 0.12 (9.6%)

The current share price of FTN Cocoa Processors (FTNCOCOA) is NGN 1.37. FTNCOCOA closed its last trading day (Friday, April 19, 2024) at 1.37 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.6% gain over its previous closing price of 1.25 NGN. FTN Cocoa Processors began the year with a share price of 1.48 NGN but has since lost 7.43% off that price valuation, ranking it 115th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that FTNCOCOA has lost 15% of the stock’s value from March 15th to date.

FTN Cocoa Processors is the 27th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 17 – Apr 19, 2024). FTNCOCOA has traded a total volume of 206 million shares—in 3,861 deals—valued at NGN 381 million over the period, with an average of 3.27 million traded shares per session. A volume high of 30.4 million was achieved on January 17th, and a low of 155,001 on March 14th, for the same period.

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

RT BRISCOE • 0.59 ▴ 0.05 (9.26%)

The current share price of R T Briscoe (RT BRISCOE) is NGN 0.59. RTBRISCOE closed its last trading day (Friday, April 19, 2024) at 0.59 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.3% gain over its previous closing price of 0.54 NGN. RT Briscoe began the year with a share price of 0.61 NGN but has since lost 3.28% off that price valuation, ranking it 108th on the NGX in terms of year-to-date performance. Shareholders’ fears may be allayed by the 18% increase of RTBRISCOE share price since March 15th, which is fifth best on NGX.

RT Briscoe is the 72nd most traded stock on the Nigerian Stock Exchange over the past three months (Jan 17 – Apr 19, 2024). RTBRISCOE has traded a total volume of 49 million shares—in 1,177 deals—valued at NGN 30 million over the period, with an average of 777,509 traded shares per session. A volume high of 4.91 million was achieved on January 17th, and a low of 16,116 on April 16th, for the same period.

GUINNESS • 55.00 ▪ 0.00

The current share price of Guinness Nigeria (GUINNESS) is NGN 55.00. GUINNESS closed its last trading day (Friday, April 19, 2024) at 55.00 NGN per share on the Nigerian Stock Exchange (NGX). Guinness began the year with a share price of 66.00 NGN but has since lost 16.7% off that price valuation, ranking it 135th on the NGX in terms of year-to-date performance. Shareholders’ fears may be allayed by the 20% increase of GUINNESS share price since March 15th, which is fourth best on NGX.

Guinness Nigeria is the 73rd most traded stock on the Nigerian Stock Exchange over the past three months (Jan 17 – Apr 19, 2024). GUINNESS has traded a total volume of 48.1 million shares—in 5,821 deals—valued at NGN 2.51 billion over the period, with an average of 763,078 traded shares per session. A volume high of 14.5 million was achieved on March 21st, and a low of 45,793 on March 4th, for the same period.

NEM • 10.35 ▾ 0.05 (0.48%)

The current share price of N.E.M. Insurance Company (NEM) is NGN 10.35. NEM closed its last trading day (Friday, April 19, 2024) at 10.35 NGN per share on the Nigerian Stock Exchange (NGX), recording a 0.5% drop from its previous closing price of 10.40 NGN. N.E.M. began the year with a share price of 6.30 NGN and has since gained 64.3% on that price valuation, ranking it seventh on the NGX in terms of year-to-date performance. Shareholders can be optimistic about NEM knowing the stock has accrued an outstanding 56% over the past four-week period alone—third best on NGX.

N.E.M. Insurance Company is the 59th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 17 – Apr 19, 2024). NEM has traded a total volume of 79 million shares—in 1,911 deals—valued at NGN 666 million over the period, with an average of 1.25 million traded shares per session. A volume high of 30.2 million was achieved on April 12th, and a low of 1,048 on March 14th, for the same period.

By:Babajide Okeowo

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