For the second consecutive week, the Nigerian equities market faced bearish sentiments, with listed equities experiencing losses in four of the five trading sessions. This resulted in a substantial decline of N1.83 trillion in market capitalization, dropping from N55.86 trillion to N54.04 trillion compared to the previous week.
The benchmark All-Share Index (ASI) also witnessed a decline of -3.27%, falling to 98,751.98 points from 102,088.30 points recorded in the previous week, slipping below the significant 100,000 points mark.
Despite the overall downturn, notable performances from stocks such as GTCO,
ZENITHBANK, PZ CUSSONS, TRANSCORP, and others countered the market’s poor performance, positioning them as stocks to watch in the upcoming week.
However, it’s essential to note that Ripples Nigeria’s “Stocks to Watch” list does not constitute buy, sell, or hold recommendations. It’s advisable to consult a financial advisor before making any investment decisions.
GTCO (Guaranty Trust Holding)
– Current Share Price: NGN 41.70, Up by 5.3%
– GTCO closed at NGN 41.70 per share on the Nigerian Stock Exchange (NGX) on Friday, March 1, 2024, marking a 5.3% gain over its previous closing price.
– Year-to-date, GTCO has gained 2.96%, ranking 66th on the NGX in terms of performance.
– GTCO is among the most traded stocks on the NGX over the past three months, with significant trading volume and activity.
TRANSCORP (Transcorp Nigeria)
– Current Share Price: NGN 14.28, Up by 9.93%
– TRANSCORP closed at NGN 14.28 per share on the NGX, recording a 9.9% gain over its previous closing price.
– Year-to-date, TRANSCORP has gained 64.9%, ranking eighth on the NGX in terms of performance.
– Despite recent underperformance, TRANSCORP remains the most traded stock on the NGX, indicating substantial investor interest.
ZENITHBANK (Zenith Bank Plc)
– Current Share Price: NGN 35.50, Up by 1.43%
– ZENITHBANK closed at NGN 35.50 per share on the NGX, registering a 1.4% gain over its previous closing price.
– Year-to-date, ZENITHBANK has lost 8.15% of its value, ranking 128th on the NGX in terms of performance.
– Shareholders’ concerns are compounded by recent losses, but ZENITHBANK remains among the most traded stocks on the NGX.
PZ (PZ Cussons Nigeria)
– Current Share Price: NGN 33.75, Up by 9.93%
– PZ closed at NGN 33.75 per share on the NGX, recording a 9.9% gain over its previous closing price.
– Year-to-date, PZ has gained 26.4%, ranking 26th on the NGX in terms of performance.
– Despite recent setbacks, PZ remains among the actively traded stocks on the NGX.
Investors should exercise caution and conduct thorough analysis before considering any investment decisions, keeping in mind the volatility of the market.