Amid several trade activities last week, few companies in the Nigerian stock market caught the eyes of Ripples Nigeria Stocks Watchlist through their capital market activities.
Some of the companies that made the list are Lasaco Assurance, Access Bank, GTBank, Morison and Champions Brew.
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.
Lasaco Assurance made Ripples Stock to Watch because the month of March seem to be favouring the insurance firm, as the company’s stock price has been on an upward swing, rising from its bearish state in February to gradually becoming a bull.
On March 1, 2021, Lasaco share price dropped to N1.12, but has since become a hot stock in the capital market, with investors valuing Lasaco share at an higher amount, thereby pushing the stock price to N1.12kobo per share as of March 8, 2021.
Access Bank made the list for the exact opposite of Lasaco. The lender’s stock has been slipping in the capital market, with investors pricing Access Bank’s stock for cheap, while some shareholders were willing to sell at a lesser value.
Access Bank share price fell like a park of cards in the first week of March, losing N0.35kobo in the process. This has affected the bank’s share prixe which fell from N8.15kobo power share to N7.80kobo per share.
As GTBank is preparing to release its earnings report, the lender’s stock price has been fluctuating in the first week of March. While GTBank closed the market on Monday, March 1, 2021, with N13 per share, the stock price rose to N31.70kobo per share on Wednesday.
However, as of Friday, March 5, GTBank’s share price had depreciated to N31.05 per share. The fluctuation in share price shows the low confidence investors have in GTBank, as they price and sell for cheap.
Morison has been one of the best stock in the first quarter of this year. The pharmaceutical marketer had gained N0.11kobo in share price to top best performing stock last week.
Morison gained N0.11kobo to rise to N0.66kobo from N0.55kobo per share. The company is one to watch out for during trading this week.
The alcoholic company topped the chart for decliners following a loss of N0.84kobo from the N2.52kobo share price it opened with, to close with N1.68kobo. Champions Brew is in an industry that has been struggling with government policies and COVID-19.
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