Last week, the Nigerian stock market recorded 21,732 deals, which saw 1.67 billion shares worth N23.54 billion exchanged hands. These figures reflect the market is in a bearish state considering 2.09 billion shares valued at N29.74 billion were traded in 24,238 deals two weeks ago.
As the Nigerian stock market continues to trade low in March, there are some stocks that investors need to take note of before investing their capital into the company.
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.
Nestle Nigeria’s market share has declined significantly in the month of March. The company’s stock started this month at N1450 per share, but at the end of the first week, the share price ended at N1350 per share.
Although, Nestle Nigeria’s share price began to rally in the second week, rising to N1375 per share. Note that the fall in value began as the company’s majority shareholder, Nestle S.A started to purchase the shares of the Nigerian subsidiary from March.
Existing shareholders seem to be selling off their stocks as the Switzerland-based company has been active in the buyers market for the past two weeks, and its affecting Nestle Nigeria’s share price. So as the week begins, be cautious when trading on Nestle Nigeria.
Last week, MTN Nigeria announced that it won’t pay existing shareholders full dividend for 2020, as the company is struggling to repatriate its funds out of Nigeria. This announcement was shocking, as MTN Nigeria made a killing in revenue last year.
The stock market reacted negatively to the decision, as some shareholders engaged in profit-taking in exchange for the suspended dividend. While MTN Nigeria’s stock had fallen by N4 per share a week before the announcement, it declined significantly by N12 per share afterwards – this put MTN Nigeria’s stock under radar.
The alcoholic company made the list following its performance at last week’s stock market. Champion Brew led the list of top gainers following a gain of N0.76kobo.
Champion Brew stock price rose to N2.44kobo at the end of the week, to surpass the N1.68kobo it opened the stock market with last week.
The oil company made Ripples Nigeria’s watch list after its share price declined to N4.52kobo per share at the close of capital market last week. Eterna Oil had lost N1.08 in share price to drop from N5.70kobo per share.
The lender was one of the top five losers last week. Investors need to note that Zenith Bank lost N3.95kobo within five days of trading last week. The company’s share price nosedive from N25.30kobo last week, to close with 21.35kobo.