Geregu, Bua Foods, Gtco, Nahco, others top list of stocks to watch this week

Investors in the Nigerian equities market endured another topsy-turvy trading week last week characterized by three days of bears and two days of bull with the investing public losing N1.99trn as market capitalization fell to N55.86trn from N57.85trn in the previous week.

This is even as the benchmark All-Share Index (ASI) fell by -3.44% to 102,088.30 points from 105,722.78 points the previous week.

However, strong performances from stocks like Geregu, Bua Foods, GTCO, NAHCO, AFRIPUDS and others countered the poor performances of the equities market making 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.

BUAFOODS • 379.90 ▴ 22.40 (6.27%)

The current share price of BUA Foods (BUAFOODS) is NGN 379.90. BUAFOODS closed its last trading day (Friday, February 23, 2024) at 379.90 NGN per share on the Nigerian Stock Exchange (NGX), recording a 6.3% gain over its previous closing price of 357.50 NGN. BUA Foods began the year with a share price of 193.40 NGN and has since gained 96.4% on that price valuation, ranking it fifth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about BUAFOODS knowing the stock has accrued 40% over the past four-week period alone—fifth best on NGX.

BUA Foods is the 98th most traded stock on the Nigerian Stock Exchange over the past three months (Nov 24, 2023 – Feb 23, 2024). BUAFOODS has traded a total volume of 12.6 million shares—in 4,597 deals—valued at NGN 2.8 billion over the period, with an average of 199,741 traded shares per session. A volume high of 2.96 million was achieved on January 5th, and a low of 1,201 on November 24th, for the same period.

GEREGU • 985.00 ▪ 0.00

The current share price of Geregu Power Plc (GEREGU) is NGN 985.00. GEREGU closed its last trading day (Friday, February 23, 2024) at 985.00 NGN per share on the Nigerian Stock Exchange (NGX). Geregu Power began the year with a share price of 399.00 NGN and has since gained 147% on that price valuation, ranking it second on the NGX in terms of year-to-date performance. Shareholders can be optimistic about GEREGU knowing the stock has accrued an outstanding 99% over the past four-week period alone—second best on NGX.

READ ALSO:GEREGU, BUAFOOD, TRANSCOHOT, MRS Oil top list of stocks to watch

Geregu Power is the 65th most traded stock on the Nigerian Stock Exchange over the past three months (Nov 24, 2023 – Feb 23, 2024). GEREGU has traded a total volume of 99 million shares—in 6,908 deals—valued at NGN 44.8 billion over the period, with an average of 1.57 million traded shares per session. A volume high of 20 million was achieved on December 29th, and a low of 1,462 on December 13th, for the same period.

GTCO • 39.05 ▾ 0.45 (1.14%)

The current share price of Guaranty Trust Holding (GTCO) is NGN 39.05. GTCO closed its last trading day (Friday, February 23, 2024) at 39.05 NGN per share on the Nigerian Stock Exchange (NGX), recording a 1.1% drop from its previous closing price of 39.50 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN but has since lost 3.58% off that price valuation, ranking it 121st on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that GTCO has lost 11% of the stock’s value from January 26th to date.

Guaranty Trust Holding is the fifth most traded stock on the Nigerian Stock Exchange over the past three months (Nov 24, 2023 – Feb 23, 2024). GTCO has traded a total volume of 1.65 billion shares—in 21,757 deals—valued at NGN 67.5 billion over the period, with an average of 26.2 million traded shares per session. A volume high of 89.5 million was achieved on December 20th, and a low of 3.54 million on November 24th, for the same period.

NAHCO • 30.70 ▪ 0.00

The current share price of Nigerian Aviation Handling Co. (NAHCO) is NGN 30.70. NAHCO closed its last trading day (Friday, February 23, 2024) at 30.70 NGN per share on the Nigerian Stock Exchange (NGX). Nigerian Aviation Handling began the year with a share price of 25.40 NGN and has since gained 20.9% on that price valuation, ranking it 32nd on the NGX in terms of year-to-date performance. Investors should, however, take caution of NAHCO’s recent bad performance, having lost 9% of its value in the past four weeks.

Nigerian Aviation Handling Co. is the 37th most traded stock on the Nigerian Stock Exchange over the past three months (Nov 24, 2023 – Feb 23, 2024). NAHCO has traded a total volume of 199 million shares—in 6,365 deals—valued at NGN 5.8 billion over the period, with an average of 3.16 million traded shares per session. A volume high of 18.1 million was achieved on January 19th, and a low of 168,799 on February 20th, for the same period. r 24th, for the same period.

By Babajide Okeowo

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