MTNN, TRANSPOWER, GTCO, JULIUS BERGER top list of stocks to watch this week

With the local bourse in full swing of bull dominance by gaining in all the trading sessions of the previous week, investors must be in a bullish mood as trading opens on the floor of the Nigerian Xchange (NGX) in a couple of hours.

Investors gained N2.12trn as market capitalization rose to N59.42trn from N57.29trn in the previous week, while the year-to-date return rose to 40.54% just as the benchmark All-Share Index (ASI) rose +3.71% to 105,085.25 points from 101,330.65 points the previous week

This growth was spurred by strong performances by stocks like MTNN, TRANSPOWER, GTCO, JULIUS BERGER and others 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 • 48.45 ▴ 4.40 (9.99%)

The current share price of Guaranty Trust Holding (GTCO) is NGN 48.45. GTCO closed its last trading day (Friday, March 15, 2024) at 48.45 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 44.05 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN and has since gained 19.6% on that price valuation, ranking it 32nd on the NGX in terms of year-to-date performance. Shareholders can be optimistic about GTCO knowing the stock has accrued 24% over the past four-week period alone—sixth best on NGX.

Guaranty Trust Holding is the fifth most traded stock on the Nigerian Stock Exchange over the past three months (Dec 15, 2023 – Mar 15, 2024). GTCO has traded a total volume of 1.56 billion shares—in 23,045 deals—valued at NGN 64.8 billion over the period, with an average of 24.7 million traded shares per session. A volume high of 96.6 million was achieved on March 11th, and a low of 3.11 million on March 4th, for the same period.
READ ALSO: Transpower, MTNN, Geregu, Bua Cement top lists of stocks to watch this week

JBERGER • 72.60 ▴ 5.50 (8.2%)

The current share price of Julius Berger Nigeria Plc (JBERGER) is NGN 72.60. JBERGER closed its last trading day (Friday, March 15, 2024) at 72.60 NGN per share on the Nigerian Stock Exchange (NGX), recording an 8.2% gain over its previous closing price of 67.10 NGN. Julius Berger began the year with a share price of 43.00 NGN and has since gained 68.8% on that price valuation, ranking it ninth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about JBERGER knowing the stock has accrued 31% over the past four-week period alone—fifth best on NGX.

Julius Berger Nigeria is the 70th most traded stock on the Nigerian Stock Exchange over the past three months (Dec 15, 2023 – Mar 15, 2024). JBERGER has traded a total volume of 70.7 million shares—in 3,252 deals—valued at NGN 3.39 billion over the period, with an average of 1.12 million traded shares per session. A volume high of 11.2 million was achieved on January 9th, and a low of 12,041 on March 7th, for the same period.

MTNN • 267.80 ▴ 19.80 (7.98%)

The current share price of MTN Nigeria (MTNN) is NGN 267.80. MTNN closed its last trading day (Friday, March 15, 2024) at 267.80 NGN per share on the Nigerian Stock Exchange (NGX), recording an 8% gain over its previous closing price of 248.00 NGN. MTN began the year with a share price of 264.00 NGN and has since gained 1.44% on that price valuation, ranking it 72nd on the NGX in terms of year-to-date performance.

MTN Nigeria is the 54th most traded stock on the Nigerian Stock Exchange over the past three months (Dec 15, 2023 – Mar 15, 2024). MTNN has traded a total volume of 123 million shares—in 25,399 deals—valued at NGN 31.6 billion over the period, with an average of 1.95 million traded shares per session. A volume high of 10.7 million was achieved on January 31st, and a low of 276,879 on February 7th, for the same period.

TRANSPOWER • 380.00 ▪ 0.00

The current share price of Transcorp Power (TRANSPOWER) is NGN 380.00. TRANSPOWER closed its last trading day (Friday, March 15, 2024) at 380.00 NGN per share on the Nigerian Stock Exchange (NGX). Transcorp Power closed its IPO day (March 4, 2024) with a share price of 264.00 NGN and has since gained 43.9% on that price valuation, ranking it 18th on the NGX in terms of year-to-date performance.

Transcorp Power is the 10th most traded stock on the Nigerian Stock Exchange over the past week (Mar 8 – Mar 15, 2024). TRANSPOWER has traded a total volume of 63 million shares—in 6,889 deals—valued at NGN 23.6 billion over the period, with an average of 10.5 million traded shares per session. A volume high of 30.5 million was achieved on March 8th, and a low of 1.08 million on March 15th, for the same period.

By: Babajide Okeowo

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