MTNN, Zenith Bank, GTCO, Julius Berger top list of stocks to watch this week

Investors in the Nigerian capital market are currently experiencing a boom after a run of bearish sentiment.

At the end of trading on Friday May 3, 2024, the benchmark All-Share Index (ASI) rose +1.46% to 99,587.25 points from 98,152.91 points the previous week, snapping its sixth consecutive weekly loss as investors gained N811.48bn as market capitalization rose to N56.32trn, while the year-to-date returns rose to 33.18%.

This follows renewed interest in heavyweights like MTNN, Zenith Bank, GTCO, Julius Berger 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.

GTCO • 38.10 ▴ 3.10 (8.86%)

The current share price of Guaranty Trust Holding (GTCO) is NGN 38.10. GTCO closed its last trading day (Friday, May 3, 2024) at 38.10 NGN per share on the Nigerian Stock Exchange (NGX), recording an 8.9% gain over its previous closing price of 35.00 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN but has since lost 5.93% off that price valuation, ranking it 114th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that GTCO has lost 27% of the stock’s value from March 28th to date.

Guaranty Trust Holding is the third most traded stock on the Nigerian Stock Exchange over the past three months (Jan 30 – May 3, 2024). GTCO has traded a total volume of 2.13 billion shares—in 27,805 deals—valued at NGN 88.6 billion over the period, with an average of 33.9 million traded shares per session. A volume high of 245 million was achieved on April 30th, and a low of 3.11 million on March 4th, for the same period.

READ ALSO:FTN Cocoa, RT Briscoes, Guinness, Nem, top list of stocks to watch this week

MTNN • 215.00 ▴ 5.00 (2.38%)

The current share price of MTN Nigeria (MTNN) is NGN 215.00. MTNN closed its last trading day (Friday, May 3, 2024) at 215.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 2.4% gain over its previous closing price of 210.00 NGN. MTN began the year with a share price of 264.00 NGN but has since lost 18.6% off that price valuation, ranking it 138th on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that MTNN has lost 7% of the stock’s value from March 28th to date.

MTN Nigeria is the 29th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 30 – May 3, 2024). MTNN has traded a total volume of 142 million shares—in 25,002 deals—valued at NGN 33.2 billion over the period, with an average of 2.26 million traded shares per session. A volume high of 11.1 million was achieved on March 25th, and a low of 149,749 on May 2nd, for the same period.

JULIUS BERGER • 72.40 ▪ 0.00

The current share price of Julius Berger Nigeria Plc (JBERGER) is NGN 72.40. JBERGER closed its last trading day (Friday, May 3, 2024) at 72.40 NGN per share on the Nigerian Stock Exchange (NGX). Julius Berger began the year with a share price of 43.00 NGN and has since gained 68.4% on that price valuation, ranking it seventh on the NGX in terms of year-to-date performance. Shareholders can be optimistic about JBERGER knowing the stock has accrued 10% over the past four-week period—seventh best on NGX.

Julius Berger Nigeria is the 78th most traded stock on the Nigerian Stock Exchange over the past three months (Jan 30 – May 3, 2024). JBERGER has traded a total volume of 31.9 million shares—in 3,228 deals—valued at NGN 1.89 billion over the period, with an average of 505,789 traded shares per session. A volume high of 6.62 million was achieved on February 7th, and a low of 5,740 on March 27th, for the same period.

ZENITHBANK • 34.60 ▴ 1.85 (5.65%)

The current share price of Zenith Bank Plc (ZENITHBANK) is NGN 34.60. ZENITHBANK closed its last trading day (Friday, May 3, 2024) at 34.60 NGN per share on the Nigerian Stock Exchange (NGX), recording a 5.6% gain over its previous closing price of 32.75 NGN. Zenith began the year with a share price of 38.65 NGN but has since lost 10.5% off that price valuation, ranking it 121st on the NGX in terms of year-to-date performance. Shareholders’ worries are compounded by the fact that ZENITHBANK has lost 22% of the stock’s value from March 28th to date.

Zenith Bank is the sixth most traded stock on the Nigerian Stock Exchange over the past three months (Jan 30 – May 3, 2024). ZENITHBANK has traded a total volume of 1.87 billion shares—in 37,225 deals—valued at NGN 72.3 billion over the period, with an average of 29.7 million traded shares per session. A volume high of 162 million was achieved on April 4th, and a low of 6.93 million on February 15th, for the same period.

By; Babajide Okeowo

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