Transpower, MTNN, Geregu, Bua Cement top lists of stocks to watch this week

Transpower, MTNN, Geregu, Bua Cement, PZ Cussons top some of the stocks to watch this week as investors commence trading on the floor of the Nigerian Xchange (NGX) this week.

After two consecutive weeks of bearish sentiment, investors gained N3.26trn as market capitalisation rose to N57.29 trn from N54.04trn in the previous week as a total turnover of 2.16bn shares worth N108.82bn in 51,556 deals was traded in the week, from 1.88bn shares valued at N34.15bn traded in the previous week in 48,464 deals.

The benchmark all-share index (ASI) also increased to 101,330.65 points from 98,751.98 points the previous week, reversing last week’s losses that plunged the ASI below its 100,000 points mark.

The strong showing of the equities market which recorded four days of bulls and a single day of bears was influenced by the gains in TRANSPOWER, MTNN, BUACEMENT, GEREGU, and PZ Cussons making them stocks to watch in the 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.

TRANSPOWER • 351.30 ▪ 0.00

The current share price of Transcorp Power (TRANSPOWER) is NGN 351.30. TRANSPOWER closed its last trading day (Friday, March 8, 2024) at 351.30 NGN per share on the Nigerian Stock Exchange (NGX).

Transcorp Power closed its Initial Public Offer IPO day (March 4, 2024) with a share price of 264.00 NGN and has since gained 33.1% on that price valuation, ranking it 20th on the NGX in terms of year-to-date performance.

READ ALSO:GTCO, Zenith Bank, PZ, Transcorp top lists of stocks to watch this week

MTNN • 221.40 ▴ 20.10 (9.99%)

The current share price of MTN Nigeria (MTNN) is NGN 221.40. MTNN closed its last trading day (Friday, March 8, 2024) at 221.40 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 201.30 NGN. MTN began the year with a share price of 264.00 NGN but has since lost 16.1% off that price valuation, ranking it 140th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that MTNN has lost 19% of the stock’s value from February 9th to date.

MTN Nigeria is the 56th most traded stock on the Nigerian Stock Exchange over the past three months (Dec 8, 2023 – Mar 8, 2024). MTNN has traded a total volume of 116 million shares—in 24,252 deals—valued at NGN 29.8 billion over the period, with an average of 1.84 million traded shares per session. A volume high of 10.7 million was achieved on January 31st, and a low of 276,879 on February 7th, for the same period.

GEREGU • 1,000.00 ▪ 0.00

The current share price of Geregu Power Plc (GEREGU) is NGN 1,000.00. GEREGU closed its last trading day (Friday, March 8, 2024) at 1,000.00 NGN per share on the Nigerian Stock Exchange (NGX). Geregu Power began the year with a share price of 399.00 NGN and has since gained 151% on that price valuation, ranking it second on the NGX in terms of year-to-date performance. Shareholders can be optimistic about GEREGU knowing the stock has accrued 48% over the past four-week period alone—second best on NGX.

Geregu Power is the 62nd most traded stock on the Nigerian Stock Exchange over the past three months (Dec 8, 2023 – Mar 8, 2024). GEREGU has traded a total volume of 101 million shares—in 7,623 deals—valued at NGN 47.1 billion over the period, with an average of 1.61 million traded shares per session. A volume high of 20 million was achieved on December 29th, and a low of 990 on March 1st, for the same period.

BUACEMENT • 141.00 ▪ 0.00

The current share price of BUA Cement Plc (BUACEMENT) is NGN 141.00. BUACEMENT closed its last trading day (Friday, March 8, 2024) at 141.00 NGN per share on the Nigerian Stock Exchange (NGX). BUA Cement began the year with a share price of 97.00 NGN and has since gained 45.4% on that price valuation, ranking it 13th on the NGX in terms of year-to-date performance. Investors should, however, take caution of BUACEMENT’s recent poor performance, having lost 15% of its value in the past four weeks.

BUA Cement is the 69th most traded stock on the Nigerian Stock Exchange over the past three months (Dec 8, 2023 – Mar 8, 2024). BUACEMENT has traded a total volume of 81.1 million shares—in 8,708 deals—valued at NGN 11.8 billion over the period, with an average of 1.29 million traded shares per session. A volume high of 32.7 million was achieved on January 29th, and a low of 19,053 on December 14th, for the same period.

By Babajide Okeowo

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