The Nigerian stock market was gloomy all through last week with bearish run taking its course Monday through Friday. The two key market performance indicators simultaneously closed in the negative territory, thus creating a feeling of upset as to how the festive season would pan out for investors.
We have selected a group of stocks you should watch out for this week on the basis of how the market fared last week.
Ripples Nigeria watch list 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 stock watch-list is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.
ROYAL EXCHANGE PLC
Royal Exchange tops our list this week on the strength of its status as the best performing stock last week. It opened at N0.23 last week and closed at N0.27, appreciating by 17.39% in the process.
CORNERSTONE INSURANCE PLC
Cornerstone makes the list by virtue of being highest price loser for last week. Opening at N0.79, it slid to N0.63 as the week ended, shedding 20.25%.
INTERNATIONAL BREWERIES PLC
Nigeria’s second largest brewer, International Breweries makes our list on the account of its proposed rights issue. The company had earlier submitted for approval an application for a Rights Issue of Eighteen Billion, Two Hundred and Sixty-Six Million, Two Hundred and Six Thousand, Six Hundred and Fourteen (18,266,206,614) ordinary shares of Fifty Kobo (N0.50) each at N9.00 per share on the basis of 17 new ordinary shares for every 8 ordinary shares held as at Wednesday, 6 November 2019.
The acceptance list opened on Thursday 5th December 2019 and is expected to close on Tuesday 24th December 2019.
Afromedia makes our list on the account of being at its lowest price in the last 52 weeks. The stock currently sells for N0.34.
BETA GLASS PLC
Betaglass makes our list by reason of being at its lowest price in the last 52 weeks. The stock currently sells for N53.80.
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