Transcorp, Ikeja Hotel, Unity bank, Sterling top list of stocks to buy this week

As the equities market inches closer to the 80,0000 index points, having ended 2023 on a positive note at 74,773.77, Transcorp, Ikeja Hotel, Unitybnk and Sterling HoldCo are some of the stocks that investors could look at in the week.

Year-On-Year, the stocks have posted very strong performances; Transcorp (+46.19%), Ikeja Hotel (+46.17%), Unity Bank Plc (+45.06%), Sterling Holdco (+34.50%) to give investors in those stocks a good return.

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.

TRANSCORP • 12.66 ▴ 1.15 (9.99%)

The current share price of Transcorp Nigeria (TRANSCORP) is NGN 12.66. TRANSCORP closed its last trading day (Friday, January 5, 2024) at 12.66 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 11.51 NGN. Transcorp began the year with a share price of 8.66 NGN and has since gained 46.2% on that price valuation, ranking it first on the NGX in terms of year-to-date performance. Shareholders can be optimistic about TRANSCORP knowing the stock has accrued an outstanding 82% over the past four-week period alone—sixth best on NGX.

Transcorp Nigeria is the seventh most traded stock on the Nigerian Stock Exchange over the past three months (Oct 6, 2023 – Jan 5, 2024). TRANSCORP has traded a total volume of 1.27 billion shares—in 16,072 deals—valued at NGN 9.56 billion over the period, with an average of 20.1 million traded shares per session. A volume high of 75.4 million was achieved on January 5th, and a low of 2.83 million on November 7th, for the same period.

READ ALSO:FBN Holdings, Tantalizer and Transcorp are stocks to watch

IKEJAHOTEL • 8.77 ▴ 0.79 (9.9%)

The current share price of Ikeja Hotel Plc (IKEJAHOTEL) is NGN 8.77. IKEJAHOTEL closed its last trading day (Friday, January 5, 2024) at 8.77 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9% gain over its previous closing price of 7.98 NGN. Ikeja Hotel began the year with a share price of 6.00 NGN and has since gained 46.2% on that price valuation, ranking it second on the NGX in terms of year-to-date performance. Shareholders can be optimistic about IKEJAHOTEL knowing the stock has accrued an outstanding 90% over the past four-week period alone—fifth best on NGX.

Ikeja Hotel is the 73rd most traded stock on the Nigerian Stock Exchange over the past three months (Oct 6, 2023 – Jan 5, 2024). IKEJAHOTEL has traded a total volume of 55.7 million shares—in 1,467 deals—valued at NGN 273 million over the period, with an average of 884,504 traded shares per session. A volume high of 8.52 million was achieved on October 23rd, and a low of 200 on October 27th, for the same period.

UNITYBNK • 2.35 ▴ 0.21 (9.81%)

The current share price of Unity Bank (UNITYBNK) is NGN 2.35. UNITYBNK closed its last trading day (Friday, January 5, 2024) at 2.35 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.8% gain over its previous closing price of 2.14 NGN. Unity began the year with a share price of 1.62 NGN and has since gained 45.1% on that price valuation, ranking it third on the NGX in terms of year-to-date performance. Shareholders can be optimistic about UNITYBNK knowing the stock has accrued an outstanding 57% over the past four-week period alone—11th best on NGX.

Unity Bank is the 12th most traded stock on the Nigerian Stock Exchange over the past three months (Oct 6, 2023 – Jan 5, 2024). UNITYBNK has traded a total volume of 833 million shares—in 5,848 deals—valued at NGN 1.28 billion over the period, with an average of 13.2 million traded shares per session. A volume high of 75.8 million was achieved on January 4th, and a low of 89,615 on October 13th, for the same period.

STERLINGNG • 5.77 ▴ 0.52 (9.9%)

The current share price of Sterling Bank (STERLINGNG) is NGN 5.77. STERLINGNG closed its last trading day (Friday, January 5, 2024) at 5.77 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.9% gain over its previous closing price of 5.25 NGN. Sterling began the year with a share price of 4.29 NGN and has since gained 34.5% on that price valuation, ranking it eighth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about STERLINGNG knowing the stock has accrued an outstanding 56% over the past four-week period alone—13th best on NGX.

Sterling Bank is the 14th most traded stock on the Nigerian Stock Exchange over the past three months (Oct 6, 2023 – Jan 5, 2024). STERLINGNG has traded a total volume of 649 million shares—in 6,372 deals—valued at NGN 2.75 billion over the period, with an average of 10.3 million traded shares per session. A volume high of 71.6 million was achieved on January 4th, and a low of 1.34 million on November 20th, for the same period.

Join the conversation

Opinions

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.

Donate Now