Conoil, Oando, GTCO, Zenith Bank topped the list of stocks to watch this week as investors began trading in the second half of the year.

The Nigerian equities market dipped in three of the five trading sessions as the benchmark All-Share Index (ASI) declined by -0.04% to close at 100,022.03 points from 100,057.49 points the previous week.

Investors lost N20.75bn as market capitalisation fell to N56.58trn from N56.60trn the previous week triggered by losses from stocks like JULIUS BERGER, DANGOTE SUGAR, CUSTODIAN and Nigerian Breweries

However, strong performances by stocks like CONOIL, Oando, GTCO and ZENITH BANK which gained 20.48%, 13.33%, 6.29% and 5.63% in share prices respectively boosted the equities market and made 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.

CONOIL • 126.50

The current share price of Conoil Plc (CONOIL) is NGN 126.50. CONOIL closed its last trading day (Friday, July 5, 2024) at 126.50 NGN per share on the Nigerian Stock Exchange (NGX), recording a 10% gain over its previous closing price of 115.00 NGN. Conoil began the year with a share price of 83.90 NGN and has since gained 50.8% on that price valuation, ranking it 15th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about CONOIL knowing the stock has accrued 20% over the past four-week period alone—18th best on NGX.

Conoil is the 99th most traded stock on the Nigerian Stock Exchange over the past three months (Mar 28 – Jul 5, 2024). CONOIL has traded a total volume of 5.28 million shares—in 2,029 deals—valued at NGN 533 million over the period, with an average of 83,789 traded shares per session. A volume high of 916,713 was achieved on July 5th, and a low of 3 on April 18th, for the same period.

GTCO • 47.35

The current share price of Guaranty Trust Holding (GTCO) is NGN 47.35. GTCO closed its last trading day (Friday, July 5, 2024) at 47.35 NGN per share on the Nigerian Stock Exchange (NGX), recording a 0.3% gain over its previous closing price of 47.20 NGN. Guaranty Trust Holding began the year with a share price of 40.50 NGN and has since gained 16.9% on that price valuation, ranking it 46th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about GTCO knowing the stock has accrued 18% over the past four-week period—20th best on NGX.

Guaranty Trust Holding is the sixth most traded stock on the Nigerian Stock Exchange over the past three months (Mar 28 – Jul 5, 2024). GTCO has traded a total volume of 2.01 billion shares—in 27,418 deals—valued at NGN 82.9 billion over the period, with an average of 32 million traded shares per session. A volume high of 245 million was achieved on April 30th, and a low of 3.57 million on May 20th, for the same period.

OANDO • 17.00

The current share price of Oando Plc (OANDO) is NGN 17.00. OANDO closed its last trading day (Friday, July 5, 2024) at 17.00 NGN per share on the Nigerian Stock Exchange (NGX), recording a 9.7% gain over its previous closing price of 15.50 NGN. Oando began the year with a share price of 10.50 NGN and has since gained 61.9% on that price valuation, ranking it 13th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about OANDO knowing the stock has accrued 20% over the past four-week period—19th best on NGX.

Oando is the 14th most traded stock on the Nigerian Stock Exchange over the past three months (Mar 28 – Jul 5, 2024). OANDO has traded a total volume of 648 million shares—in 14,866 deals—valued at NGN 8.63 billion over the period, with an average of 10.3 million traded shares per session. A volume high of 58.3 million was achieved on June 28th, and a low of 1.28 million on April 4th, for the same period.

ZENITHBANK • 37.50 ▴ 0.05 (0.13%)

The current share price of Zenith Bank Plc (ZENITHBANK) is NGN 37.50. ZENITHBANK closed its last trading day (Friday, July 5, 2024) at 37.50 NGN per share on the Nigerian Stock Exchange (NGX), recording a 0.1% gain over its previous closing price of 37.45 NGN. Zenith began the year with a share price of 38.65 NGN but has since lost 2.98% off that price valuation, ranking it 116th on the NGX in terms of year-to-date performance. Shareholders’ fears may be allayed by the 17% increase of ZENITHBANK share price since June 4th, which is 22nd best on NGX.

Zenith Bank is the seventh most traded stock on the Nigerian Stock Exchange over the past three months (Mar 28 – Jul 5, 2024). ZENITHBANK has traded a total volume of 1.86 billion shares—in 36,033 deals—valued at NGN 69.1 billion over the period, with an average of 29.6 million traded shares per session. A volume high of 162 million was achieved on April 4th, and a low of 4.86 million on May 17th, for the same period.

By: Babajide Okeowo

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