Transcorp, Fidelity, Sterling, Oando top list of stocks to watch this week

With two losses in the two trading sessions of last week, investors in the Nigerian equities market endured another torrid week as they lost N632.9 billion at the close of trading.

This followed the drop in market capitalization to N57.8 trillion from N58.5 trillion posted by the bourse the previous week,

Similarly, the benchmark All-Share Index (ASI) fell -1.09% to 102,314.56 points from 103,437.67 points the previous week.

Amid the bearish sentiment, stocks like Transcorp, Fidelity, Sterling, Oando still posted strong performances to make them some of the stocks to watch this 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.

TRANSCORP • 14.95 ▴ 1.35 (9.93%)

The current share price of Transcorp Nigeria (TRANSCORP) is NGN 14.95. TRANSCORP closed its last trading day (Friday, April 12, 2024) at 14.95 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9% gain over its previous closing price of 13.60 NGN. Transcorp began the year with a share price of 8.66 NGN and has since gained 72.6% on that price valuation, ranking it eighth on the NGX in terms of year-to-date performance. Investors should, however, take caution of TRANSCORP’s recent poor performance, having lost 12% of its value in the past four weeks.

Transcorp Nigeria is the #1 most traded stock on the Nigerian Stock Exchange over the past three months (Jan 10 – Apr 12, 2024). TRANSCORP has traded a total volume of 3.41 billion shares—in 45,321 deals—valued at NGN 53.4 billion over the period, with an average of 54.1 million traded shares per session. A volume high of 301 million was achieved on March 7th, and a low of 8.44 million on March 26th, for the same period.

READ ALSO:Dangote Sugar, ETI, Okomu Oil, May and Baker top list of stocks to watch this week

STERLING BANK • 4.78 ▾ 0.17 (3.43%)

The current share price of Sterling Bank (STERLING BANK) is NGN 4.78. STERLING BANK closed its last trading day (Friday, April 12, 2024) at 4.78 NGN per share on the Nigerian Stock Exchange (NGX), recording a 3.4% drop from its previous closing price of 4.95 NGN. Sterling began the year with a share price of 4.29 NGN and has since gained 11.4% on that price valuation, ranking it 46th on the NGX in terms of year-to-date performance.

Sterling Bank is the 12th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 10 – Apr 12, 2024). STERLING BANK has traded a total volume of 1.11 billion shares—in 13,124 deals—valued at NGN 6.88 billion over the period, with an average of 17.6 million traded shares per session. A volume high of 116 million was achieved on January 10th, and a low of 1.35 million on March 15th, for the same period.

OANDO • 12.55 ▴ 1.10 (9.61%)

The current share price of Oando Plc (OANDO) is NGN 12.55. OANDO closed its last trading day (Friday, April 12, 2024) at 12.55 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.6% gain over its previous closing price of 11.45 NGN. Oando began the year with a share price of 10.50 NGN and has since gained 19.5% on that price valuation, ranking it 35th on the NGX in terms of year-to-date performance.

Oando is the 17th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 10 – Apr 12, 2024). OANDO has traded a total volume of 551 million shares—in 14,102 deals—valued at NGN 6.82 billion over the period, with an average of 8.74 million traded shares per session. A volume high of 43.5 million was achieved on February 5th, and a low of 1.28 million on April 4th, for the same period.

FIDELITY BANK• 10.00 ▴ 0.70 (7.53%)

The current share price of Fidelity Bank Plc (FIDELITY BANK) is NGN 10.00. FIDELITY BANK closed its last trading day (Friday, April 12, 2024) at 10.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 7.5% gain over its previous closing price of 9.30 NGN. Fidelity began the year with a share price of 10.85 NGN but has since lost 7.83% off that price valuation, ranking it 129th on the NGX in terms of year-to-date performance.

Fidelity Bank is the 10th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 10 – Apr 12, 2024). FIDELITY BANK has traded a total volume of 1.16 billion shares—in 17,780 deals—valued at NGN 13.1 billion over the period, with an average of 18.3 million traded shares per session. A volume high of 60.5 million was achieved on January 19th, and a low of 3.93 million on January 24 for the same period.

By:Babajide Okeowo

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