MBenefit, AirtelAfri, Omatek top list of stocks to watch this week

Following the positive close of trading activities last week, Mutual Benefits Assurance (MBENEFIT); Airtel Africa AIRTELAFRI; Omatek Ventures Plc, OMATEK; Japaul Gold and Ventures Plc, JAPAULGOLD; and Cadbury Nigeria Plc are some of the stocks to watch in the week.

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.

Airtel Africa (AIRTELAFRI)

The current share price of Airtel Africa Plc (AIRTELAFRI) is NGN 1,790.00. AIRTELAFRI closed its last trading day (Friday, November 3, 2023) at 1,790.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 5.7% gain over its previous closing price of 1,694.10 NGN.

The stock started the week at N1,400.10 before closing at N1,790.00 representing a gain of N389.90 during the week.

Airtel Africa began the year with a share price of 1,635.00 NGN and has since gained 9.48% on that price valuation, ranking it 107th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about AIRTELAFRI knowing the stock has accrued 28% over the past four-week period alone—ninth best on NGX.

Airtel Africa is the 104th most traded stock on the Nigerian Stock Exchange over the past three months (Aug 7 – Nov 3, 2023). AIRTELAFRI has traded a total volume of 6.98 million shares—in 1,986 deals—valued at NGN 9.79 billion over the period, with an average of 110,811 traded shares per session. A volume high of 2.14 million was achieved on September 18th, and a low of 594 on October 27th, for the same period. The table below details the last 10 trading days of activity of Airtel Africa on the Nigerian Stock Exchange.

Mutual Benefits Assurance (MBENEFIT)

Closely following AIRTELAFRI is Mutual Benefits Assurance (MBENEFIT) at NGN 0.53. MBENEFIT closed its last trading day (Friday, November 3, 2023) at 0.53 NGN per share on the Nigerian Stock Exchange (NGX), recording a 1.9% gain over its previous closing price of N0.52.

It started the week at N0.41 before peaking at N0.53 to record a gain of N0.12.

Mutual Benefits began the year with a share price of 0.27 NGN and has since gained 96.3% on that price valuation, ranking it 41st on the NGX in terms of year-to-date performance. Shareholders can be optimistic about MBENEFIT knowing the stock has accrued 23% over the past four-week period alone—11th best on NGX.

READ ALSO:Oando, PZ Cussons and Chellarams are stocks to watch this week

Mutual Benefits Assurance is the 29th most traded stock on the Nigerian Stock Exchange over the past three months (Aug 7 – Nov 3, 2023). MBENEFIT has traded a total volume of 175 million shares—in 1,190 deals—valued at NGN 77 million over the period, with an average of 2.78 million traded shares per session. A volume high of 22.5 million was achieved on September 14th, and a low of 12,165 on October 27th, for the same period.

Cadbury Nigeria (CADBURY)

Another stock to watch out for in the week is CADBURY. The current share price of Cadbury Nigeria (CADBURY) is NGN 15.75. CADBURY closed its last trading day (Friday, November 3, 2023) at 15.75 NGN per share on the Nigerian Stock Exchange (NGX), recording a 5% gain over its previous closing price of 15.00 NGN.

The stock started the week at N12.60 before closing the week at N15.75 gaining N3.15 in the process.

Cadbury began the year with a share price of 11.90 NGN and has since gained 32.4% on that price valuation, ranking it 74th on the NGX in terms of year-to-date performance.

Cadbury Nigeria is the 71st most traded stock on the Nigerian Stock Exchange over the past three months (Aug 7 – Nov 3, 2023). CADBURY has traded a total volume of 38 million shares—in 2,752 deals—valued at NGN 571 million over the period, with an average of 603,785 traded shares per session. A volume high of 4.63 million was achieved on September 19th, and a low of 15,034 on August 25th, for the same period.

Japaul Gold and Ventures Plc (JAPAULGOLD)

The current share price of Japaul Gold and Ventures Plc (JAPAULGOLD) is NGN 1.27. JAPAULGOLD closed its last trading day (Friday, November 3, 2023) at 1.27 NGN per share on the Nigerian Stock Exchange (NGX), recording a 2.3% drop from its previous closing price of 1.30 NGN.

In the week that ended November 3, 2023, the stock opened at N0.99 before closing at N1.27 recording a gain of N0.28.

Japaul Gold and Ventures began the year with a share price of 0.28 NGN and has since gained 354% on that price valuation, ranking it ninth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about JAPAULGOLD knowing the stock has accrued 30% over the past four-week period alone—eighth best on NGX.

Japaul Gold and Ventures is the ninth most traded stock on the Nigerian Stock Exchange over the past three months (Aug 7 – Nov 3, 2023). JAPAULGOLD has traded a total volume of 930 million shares—in 6,368 deals—valued at NGN 968 million over the period, with an average of 14.8 million traded shares per session. A volume high of 156 million was achieved on October 31st, and a low of 1.23 million on October 19th, for the same period.

It would be recalled that the Nigerian equities market closed trading activities last week on a positive note. The NGX All-Share Index and the Market Capitalization depreciated for the week by 4.56% to close the week at 70,196.77 and N38,556.89 trillion respectively.

Sixty-three (63) equities appreciated during the week; twenty-nine (29) equities depreciated while sixty-four (64) equities remained unchanged lower than seventy-six (76) equities recorded in the previous week. A total turnover of 2.45 billion shares worth N40.570 billion in 37,959 deals was traded this week by investors on the floor of the Exchange.

By Babajide Okeowo

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