As the stock exchange returned to its five days trading activities calendar this week, after the two-day Eid-ul-Fitr holiday last week, Ripples Nigeria brings you five stocks investors need to watch out for this 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.
Oando Plc will open trading this week from the losers’ position, after shareholders of the oil & gas firm suffered 11.75% loss in their investment within three days of trading last week.
Sentiment around the company is currently bearish, creating a possibility of the sell off extending into this week, which might further drag the value of shareholders investment in the firm down – but it also opens the door for prospective investors looking to buy the dip.
Champion Brew, International Breweries, Nigerian Breweries
Investors are craving for brew shares in the Nigerian capital market going by last week’s trading activity, which saw investment in Champion Brew, Nigerian Breweries and International Breweries surge.
The demand for Champion share triggered an upswing of 32.54% in shareholders investment, while those of International Breweries skyrocketed 32.35%, and Nigerian Breweries share jumped 22.59%.
The capital market is currently bullish on the brews, with expectation of the share in the industry to appreciate in the longrun, but the upward movement could be reversed by short position holders, so trade with caution.
There was an insider trade disclosure last week in FCMB, with the founder, Michael Balogun, acquiring N24.5 million worth of stocks in the lender, while his investment company, Primrose, bought N49 million valued shares.
Aside from Balogun and Primrose, FCMB Trustees Limited FCMB ESOP and Bluechip Holdings Limited acquired shares worth N1.51 billion and N24.5 million respectively in the last week of April.
Such share purchase by these substantial shareholders often signal there’s a growth sentiment among majority shareholders in a company, which would in turn, trigger high demand for such firm’s share, leading to appreciation in shareholders investment in future.
However, investors still need to trade with caution, to avoid sudden sell off, as future growth in shares can sometimes be difficult to predict from a singular action.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
SPECIAL REPORT: Illegal miners degrade Ekiti community, engage in child labour
The activities of illegal miners in a community in Ekiti State have caused degradation of the environment, as miners engage...
SPECIAL REPORT: Inside the illegal trading of forest woods in Cross River community
“With a N20,000 bribe, an external buyer can influence the youth in host communities , Cross River State, to cut...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...
INVESTIGATION: NDDC awards N1bn road contract to poultry farm
The Niger Delta Development Commission (NDDC) in what appears a breach of procurement laws, awarded a contract worth N1.028 billion...
FEATURE… Hard job, low income: Agony of Nigerian commercial drivers
Amid increase in fuel price over the years, coupled with bad roads and insecurity in Nigeria, many commercial drivers have...