Oando, Julius Berger, Eterna, Deapcap and other stocks are on the list of stocks to watch this week

The Nigerian stock market rallied again last week following strong performances from stocks such as Oando, Julius Berger, Eterna, Deapcap and others.

After five days of trading, investors smiled home with profits of N348 billion last week.

The Nigerian stock market rose in four of the five trading sessions as the All Share Index (ASI) rose 0.63% to close the week at 96,579.54 points from 95,973.45 recorded in the previous week.

Similarly, market capitalization rose to N55.4 trillion from N55.1 trillion recorded the previous week.

Market performance was driven by Oando, Julius Berger, Eterna, Deapcap and others making them stocks to watch in the new week.

Please note that Ripples Nigeria Stocks To Watch is not a buy, sell or hold recommendation. You should consult your financial advisor before making any investment decisions.

JBERGER • 170.50 0.00

The current share price of Julius Berger Nigeria Plc (JBERGER) is NGN 170.50. JBERGER closed its last trading day (Friday, August 30, 2024) at NGN 170.50 per share on the Nigerian Stock Exchange (NGX), down 1.2% from its previous closing price of NGN 172.60. Julius Berger started the year at NGN 43.00 and has since gained 297% from that valuation, ranking it fourth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about JBERGER as the stock has gained a whopping 76% in the last four-week period alone—the third best performer on the NGX.

Julius Berger Nigeria was the 30th most traded stock on the Nigerian Stock Exchange for the past three months (May 31 – August 30, 2024). JBERGER traded a total volume of 165 million shares—in 5,068 deals—valued at NGN 24.4 billion during the period, with an average of 2.62 million shares traded per session. The highest volume of 121 million was reached on August 30, and the lowest was 12,252 on July 11, for the same period.

OANDO • 84.55 ▴ 7.65 (9.95%)

The current share price of Oando Plc (OANDO) is NGN 84.55. OANDO closed its last trading day (Friday, August 30, 2024) at NGN 76.90 per share on the Nigerian Stock Exchange (NGX), registering a 9.9% increase from its previous closing price of NGN 69.95. Oando started the year at NGN 10.50 and has since gained 632% from that valuation, ranking it second on the NGX in terms of year-to-date performance. Shareholders can be optimistic about OANDO as the stock has gained a whopping 204% in the last four-week period alone—the second best on the NGX.

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Oando was the 10th most traded stock on the Nigerian Stock Exchange for the past three months (May 31 – August 30, 2024). OANDO traded a total volume of 1.26 billion shares—in 31,717 transactions—valued at NGN 36.6 billion during the period, with an average of 20 million shares traded per session. The highest volume of 93.9 million was reached on August 30, and the lowest was 3.42 million on July 16, for the same period.

ETERNAL • 29.30 ▴ 1.70 (6.16%)

The current share price of Eterna Plc (ETERNA) is NGN 29.30. ETERNA closed its last trading day (Friday, August 30, 2024) at NGN 27.60 per share on the Nigerian Stock Exchange (NGX), a 10% decline from its previous closing price of NGN 30.65. Eterna started the year at NGN 13.85 and has since risen 99.3% to that price, ranking it ninth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about ETERNA as the stock has risen 45% in the last four-week period alone—ranking the 12th best on the NGX.

Eterna was the 52nd most traded stock on the Nigerian Stock Exchange for the past three months (May 31 – August 30, 2024). ETERNA traded a total volume of 82.1 million shares—in 5,572 transactions—valued at NGN 1.91 billion during the period, with an average of 1.3 million shares traded per session. The highest volume of 14.5 million was reached on August 30, and the lowest was 35,000 on June 27, for the same period.

DEAPCAP • 0.96 ▴ 0.08 (9.09%)

The current share price of Deap Capital Management & Trust (DEAPCAP) is NGN 0.96. DEAPCAP closed its last trading day (Friday, August 30, 2024) at NGN 0.88 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 0.80. Deap Capital Management & Trust started the year at NGN 0.58 and has since gained 51.7% from that valuation, ranking it 24th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about DEAPCAP knowing that the stock has gained a whopping 69% in the last four-week period alone—the fourth best performer on the NGX.

Deap Capital Management & Trust was the 28th most traded stock on the Nigerian Stock Exchange for the past three months (May 31 – August 30, 2024). DEAPCAP traded a total volume of 168 million shares—in 1,756 deals—valued at NGN 84.9 million during the period, with an average of 2.67 million shares traded per session. The highest volume of 19.7 million was reached on August 19, and the lowest was 12,669 on August 2, for the same period.

By: Babajide Okeowo

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