As the Nigerian stock market continues to underperform and cost investors billions in share value, there are companies whose capital market activity and off-market decisions need to be considered before going ahead to trade in their shares this week.
In view of this, five companies from different sectors have been selected by Ripples Nigeria: MTN Nigeria, Linkage Assurance, Daar Communications, GTBank, and Wema Bank.
Ripples Nigeria stocks-to-watch list 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-to-watch list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
The telecoms company made the list following it’s off-stock market activity which involved its faceoff with Nigerian banks, most of which blocked customers with MTN line from subscribing.
This occured on April 2, 2021, when the stock market wasn’t in session. It might have an impact on the company this week as capital market opens. Ripples Nigeria recalls MTN’s share value was already declining before market closed last week, as investors engage in profit-taking.
It started the week with N165 per share, but closed with N160.20kobo per share.
The company closed last week on top of the gainers’ list. It had an impressive outing during a week the capital market underperformed. Linkage Assurance opened the month well as stakeholders held on to their shares.
With the long position held among its shareholders, the stock price rose by N0.21kobo, pushing the share price value to N0.72kobo per share, from N0.51kobo. Linkage Assurance performance last week made it a stock to watch this week.
The media organisation had an unpleasant outing last week, as its share price value crashed. This is why investors should keep an eye out for Daar, as its stock moves downward.
The company’s stock price crashed by 16 percent, leaving it with N0.21kobo per share at the end of capital market on Thursday, April 1, 2020, having opened the stock market with N0.25kobo per share.
The lender is one of the banks that blocked MTN customers from accessing its USSD code. The bank’s stock price had closed the week, April 1, 2021, lower than the price value it opened with on March 29, 2021.
Shareholders profit-taking during last week’s trading sent the bank’s share price crashing to N29.95kobo per share from N32.90kobo per share it opened with. At the just concluded trading week, the creditor was one of the most active at trading floor due to massive sell-off.
The crash occurred a day before the faceoff with MTN.
This is another bank whose shareholders engaged in massive sell-off to rake in gains during the course of trading last week. It was listed as one of the top three companies with the most active share trade.
Investors should as always trade with caution as stock market closed with shareholders still in the spirit of profit-taking. Wema Bank’s stock price had opened last week with N0.62kobo per share, but closed the week’s trading with N0.57kobo per share.
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