Nestle Nigeria, Nigerian Breweries, MTN Nigeria and Mutial Benefit made the stocks to watch list this week with their on and off capital market activities which made news in the business community.
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.
The company continues to record insider dealings involving its parent company, Nestle S.A. Last week, over $500 million was invested into the food and beverage producer.
The acquisition of shares by Nestle S.A made the local subsidiary share price gain N15.5kobo per share in the last day of last week. This has increased the stock value, making Nestle Nigeria one of the company to watch out for at the capital market this week.
Shareholders of the alcohol manufacturer gained N20 billion within last week’s five trading days following an increase in its market value. The stock value of Nigerian Breweries rose by 4.46 percent.
This is after gaining N2.5kobo between last week’s Monday and Friday. So the company would be going into this new week as one of the sought after stock of last week – but investors need to trade with caution as shareholders could engage in profit-taking.
Holders of the telecommunications company lost over N100 billion when some shareholders engaged in profit-taking to take advantage of its profit gains. This caused the market value to drop according to analysis of trading activities.
MTN Nigeria’s market capitalisation fell to N3.2 trillion by end of Friday, against N3.3 trillion which it opened the capital market with last week – so when going into the Nigerian bourse this week, go with caution if MTN is on your radar.
Mutual Benefit joined the list following its closing performance last week. It recorded the fifth most active trade as investors interest in the company increased Mutual Benefit’s share value.
The stock price closed the week at N0.48kobo after gaining 9.09 percent in one day. Shareholders seem to be holding for long, but when trading this week, it’s advisable to do so with caution in order to avoid the capital market’s uncertainty impact.
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