Zenith Bank, Access Bank, C&I Leasing, Eterna Oil made the stocks to watch list this week with their on and off capital market activities which made news in the business community.
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.
The lender made it to the list following an insider dealing by Zenith Bank’s Chief Executive Officer, Ebenezer Onyeagwu, which occured last week. He had purchased shares to boost his control at the firm.
But this could acquisition by Onyeagwu could be seen as a market tip on when to invest. Insider dealings are used by investors to make investment move, so those interested in Zenith Bank need to think twice if Onyeagwu’s footstep is worth taking.
Last week, Ripples Nigeria reported that Access Bank shareholders lost N8.9 billion after announcing the complete acquisition of Mozambique bank, African Banking Corporation.
After it purchased the bank from Atlas Mara, the market capitalisation of Access Bank dwindled to N293.2 billion on May 18, against the N302.1 billion it was valued as at May 14, 2021, as investors priced its stock.low.
It’s unsure if investors low confidence in Access Bank and shareholders selloff mode has worn off, so investors interested in the Herbert Wigwe-led company need to be cautious when trading on the bank.
Investors going into the capital market this week need to be cautious with C&I Leasing, as the firm topped the decliners for last week, reflecting it had a poor performance at the bourse.
It was gathered from Nigerian Stock Exchange market data that C&I Leasing stock value depreciated during the week, losing N0.94kobo to trade at a price of N4.06 per share at the end of Friday, against the N5 per share it opened the week with.
The oil company is one of the companies to watch at the capital market, as it topped the gainers chart last week. Its stock value gained a huge N1.40kobo after five days of trading.
During the period, Eterna Oil share price rose significantly from N6.60kobo per share, which it opened with, to N8 per share at the end of trading on. So when trading, look out for Eterna, but trade with caution.
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