MTNN, Zenith Bank, GTCO, Julius Berger top list of stocks to watch this week

After a temporary reprieve, the bears returned to the equities market last week as investors lost N761.40 billion.

It would be recalled that the market tumbled four times out of the five trading days last week.

At the end of trading on May 10,

the benchmark All-Share Index (ASI) lost -1.36% to close at 98,233.76 points from 99,587.25 points the previous week

Despite the bearish sentiments in the market stocks like MTNN, GTCO, UBA and PRESCO posted strong performances to lift the market sentiments 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.

Julius Berger • 72.40 ▪ 0.00

The current share price of Julius Berger Nigeria Plc (JBERGER) is NGN 72.40. JBERGER closed its last trading day (Friday, May 10, 2024) at 72.40 NGN per share on the Nigerian Stock Exchange (NGX). Julius Berger began the year with a share price of 43.00 NGN and has since gained 68.4% on that price valuation, ranking it seventh on the NGX in terms of year-to-date performance. Shareholders can be optimistic about JBERGER knowing the stock has accrued 24% over the past four-week period alone—fourth best on NGX.

Julius Berger Nigeria is the 74th most traded stock on the Nigerian Stock Exchange over the past three months (Feb 6 – May 10, 2024). JBERGER has traded a total volume of 33 million shares—in 3,265 deals—valued at NGN 1.99 billion over the period, with an average of 523,661 traded shares per session. A volume high of 6.62 million was achieved on February 7th, and a low of 5,740 on March 27th, for the same period.

MTNN • 220.00 ▪ 0.00

The current share price of MTN Nigeria (MTNN) is NGN 220.00. MTNN closed its last trading day (Friday, May 10, 2024) at 220.00 NGN per share on the Nigerian Stock Exchange (NGX). MTN began the year with a share price of 264.00 NGN but has since lost 16.7% off that price valuation, ranking it 136th on the NGX in terms of year-to-date performance.

READ ALSO:MTNN, Zenith Bank, GTCO, Julius Berger top list of stocks to watch this week

MTN Nigeria is the 29th most traded stock on the Nigerian Stock Exchange over the past three months (Feb 6 – May 10, 2024). MTNN has traded a total volume of 146 million shares—in 24,414 deals—valued at NGN 32.7 billion over the period, with an average of 2.32 million traded shares per session. A volume high of 11.9 million was achieved on May 8th, and a low of 149,749 on May 2nd, for the same period.

GTCO • 41.45 ▴ 1.45 (3.63%)

The current share price of Guaranty Trust Holding (GTCO) is NGN 41.45. GTCO closed its last trading day (Friday, May 10, 2024) at 41.45 NGN per share on the Nigerian Stock Exchange (NGX), recording a 3.6% gain over its previous closing price of 40.00 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN and has since gained 2.35% on that price valuation, ranking it 66th on the NGX in terms of year-to-date performance. Investors should, however, take caution of GTCO’s recent bad performance, having lost 10% of its value in the past four weeks.

Guaranty Trust Holding is the fourth most traded stock on the Nigerian Stock Exchange over the past three months (Feb 6 – May 10, 2024). GTCO has traded a total volume of 2.07 billion shares—in 27,738 deals—valued at NGN 85.9 billion over the period, with an average of 32.8 million traded shares per session. A volume high of 245 million was achieved on April 30th, and a low of 3.11 million on March 4th, for the same period.

ZENITHBANK • 34.00 ▪ 0.00

The current share price of Zenith Bank Plc (ZENITHBANK) is NGN 34.00. ZENITHBANK closed its last trading day (Friday, May 10, 2024) at 34.00 NGN per share on the Nigerian Stock Exchange (NGX). Zenith began the year with a share price of 38.65 NGN but has since lost 12% off that price valuation, ranking it 129th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that ZENITHBANK has lost 18% of the stock’s value from April 8th to date.

Zenith Bank is the sixth most traded stock on the Nigerian Stock Exchange over the past three months (Feb 6 – May 10, 2024). ZENITHBANK has traded a total volume of 1.78 billion shares—in 36,391 deals—valued at NGN 68.8 billion over the period, with an average of 28.3 million traded shares per session. A volume high of 162 million was achieved on April 4th, and a low of 6.93 million on February 15th, for the same period.

By: Babajide Okeowo

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