GTCO, Zenith Bank, PZ, Transcorp top lists of stocks to watch this week

For the second consecutive week, investors in the Nigerian equities market endured bearish sentiments as the listed equities lost in four of the five trading sessions culminating in a loss of N1.83trn by investors as market capitalization dipped to N54.04trn from N55.86 trn in the previous week.

The benchmark All-Share Index (ASI) also fell by -3.27% to 98,751.98 points from 102,088.30 points the previous week, dipping below its 100,000 points mark

However, strong performances from stocks like GTCO, ZENITHBANK, PZ CUSSONS, TRANSCORP 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.

GTCO • 41.70 ▴ 2.10 (5.3%)

The current share price of Guaranty Trust Holding (GTCO) is NGN 41.70. GTCO closed its last trading day (Friday, March 1, 2024) at 41.70 NGN per share on the Nigerian Stock Exchange (NGX), recording a 5.3% gain over its previous closing price of 39.60 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN and has since gained 2.96% on that price valuation, ranking it 66th on the NGX in terms of year-to-date performance.

Guaranty Trust Holding is the sixth most traded stock on the Nigerian Stock Exchange over the past three months (Dec 1, 2023 – Mar 1, 2024). GTCO has traded a total volume of 1.56 billion shares—in 22,082 deals—valued at NGN 64.2 billion over the period, with an average of 24.8 million traded shares per session. A volume high of 89.5 million was achieved on December 20th, and a low of 5.23 million on January 8th, for the same period.

TRANSCORP • 14.28 ▴ 1.29 (9.93%)

The current share price of Transcorp Nigeria (TRANSCORP) is NGN 14.28. TRANSCORP closed its last trading day (Friday, March 1, 2024) at 14.28 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9% gain over its previous closing price of 12.99 NGN. Transcorp began the year with a share price of 8.66 NGN and has since gained 64.9% on that price valuation, ranking it eighth on the NGX in terms of year-to-date performance. Investors should, however, take caution of TRANSCORP’s recent bad performance, having lost 7% of its value in the past four weeks.

READ ALSO:Seplat, Airtel Africa, Geregu, and Bua Foods, other top list of stocks to watch this week

Transcorp Nigeria is the #1 most traded stock on the Nigerian Stock Exchange over the past three months (Dec 1, 2023 – Mar 1, 2024). TRANSCORP has traded a total volume of 2.96 billion shares—in 39,808 deals—valued at NGN 40 billion over the period, with an average of 46.9 million traded shares per session. A volume high of 298 million was achieved on January 8th, and a low of 6.71 million on December 8th, for the same period.

ZENITHBANK • 35.50 ▴ 0.50 (1.43%)

The current share price of Zenith Bank Plc (ZENITHBANK) is NGN 35.50. ZENITHBANK closed its last trading day (Friday, March 1, 2024) at 35.50 NGN per share on the Nigerian Stock Exchange (NGX), recording a 1.4% gain over its previous closing price of 35.00 NGN. Zenith began the year with a share price of 38.65 NGN but has since lost 8.15% off that price valuation, ranking it 128th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that ZENITHBANK has lost 10% of the stock’s value from February 2nd to date.

Zenith Bank is the seventh most traded stock on the Nigerian Stock Exchange over the past three months (Dec 1, 2023 – Mar 1, 2024). ZENITHBANK has traded a total volume of 1.55 billion shares—in 33,684 deals—valued at NGN 60.3 billion over the period, with an average of 24.6 million traded shares per session. A volume high of 74.3 million was achieved on February 1st, and a low of 6.93 million on February 15th, for the same period.

PZ • 33.75 ▴ 3.05 (9.93%)

The current share price of PZ Cussons Nigeria (PZ) is NGN 33.75. PZ closed its last trading day (Friday, March 1, 2024) at 33.75 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9% gain over its previous closing price of 30.70 NGN. PZ Cussons began the year with a share price of 26.70 NGN and has since gained 26.4% on that price valuation, ranking it 26th on the NGX in terms of year-to-date performance. Investors should, however, take caution of PZ’s recent bad performance, having lost 7% of its value in the past four weeks.

PZ Cussons Nigeria is the 56th most traded stock on the Nigerian Stock Exchange over the past three months (Dec 1, 2023 – Mar 1, 2024). PZ has traded a total volume of 109 million shares—in 4,054 deals—valued at NGN 3.16 billion over the period, with an average of 1.72 million traded shares per session. A volume high of 7.01 million was achieved on December 22nd, and a low of 12,502 on February 15th, for the same period.

By: Babajide Okeowo

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