Airtel Africa, WAPCO, Dangote Sugar top the list of stocks to watch this week

Airtel Africa, WAPCO, Dangote Sugar and PRESCO top the list of stocks to watch this week as investors struggle to recover from last week’s tiring trading session.

Nigerian equity market plunged in four out of five trading sessions as the benchmark All Share Index (ASI) plunged -0.35% to close at 99,671.28 points from 100,022.03 points in the previous week.

Investors lost N139.8 billion as market capitalization dropped to N56.4 trillion from N56.5 trillion the previous week driven by losses from stocks such as SEPLAT, GTCO, UBA and TRANSCORP.

However, strong performance by stocks like Airtel Africa, WAPCO and Dangote Sugar which rose by 0.14%, 0.83% and 2.72% respectively in share prices has boosted the equity market and made 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.

Airtel Africa• 2,100.00 0.00

The current share price of Airtel Africa Plc (AIRTELAFRI) is NGN 2,100.00. AIRTELAFRI closed its last trading day (Friday, July 12, 2024) at NGN 2,100.00 per share on the Nigerian Stock Exchange (NGX). Airtel Africa started the year at NGN 1,887.00 and has since gained 11.3% from that price valuation, ranking it 56th on the NGX in terms of year-to-date performance.

Airtel Africa was the 100th most traded stock on the Nigerian Stock Exchange for the past three months (April 8 – July 12, 2024). AIRTELAFRI traded a total volume of 5.44 million shares—in 1,506 deals—valued at NGN 11.5 billion during the period, with an average of 86,336 shares traded per session. The highest volume of 1.98 million was reached on May 17, and the lowest was 63 on April 17, for the same period.

Dangote Sugar • 41.60 0.00

The current share price of Dangote Sugar Refinery (DANGSUGAR) is NGN 41.60. DANGSUGAR closed its last trading day (Friday, July 12, 2024) at NGN 41.60 per share on the Nigerian Stock Exchange (NGX). Dangote Sugar Refinery started the year at NGN 57.00 but has since lost 27% of its valuation, ranking it 149th on the NGX in terms of year-to-date performance. Shareholders’ concerns are compounded by the fact that DANGSUGAR has lost 11% of its share value since June 11 to date.

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Dangote Sugar Refinery was the 38th most traded stock on the Nigerian Stock Exchange for the past three months (April 8 – July 12, 2024). DANGSUGAR traded a total volume of 107 million shares—in 12,682 trades—valued at NGN 4.65 billion during the period, with an average of 1.7 million shares traded per session. The highest volume of 17.7 million was reached on April 30, and the lowest was 77,979 on April 23, for the same period.

PRESCO • 369.00 ▴ 14.80 (4.18%)

The current share price of Presco Plc (PRESCO) is NGN 369.00. PRESCO closed its last trading day (Friday, July 12, 2024) at NGN 369.00 per share on the Nigerian Stock Exchange (NGX), registering a 4.2% increase from its previous closing price of NGN 354.20. Presco started the year with a share price of NGN 193.00 and has since gained 91.2% on that price valuation, ranking it ninth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about PRESCO as the stock has risen 14% over the past four-week period—the 21st best performer on the NGX.

Presco was the 79th most traded stock on the Nigerian Stock Exchange for the past three months (April 8 – July 12, 2024). PRESCO traded a total volume of 20.9 million shares—in 5,141 deals—valued at NGN 6.08 billion during the period, with an average of 331,370 shares traded per session. The highest volume of 3.09 million was reached on May 6, and the lowest was 574 on April 19, for the same period.

WAPCO • 36.30 ▾ 0.60 (1.63%)

The current share price of Lafarge Wapco (WAPCO) is NGN 36.30. WAPCO closed its last trading day (Friday, July 12, 2024) at NGN 36.30 per share on the Nigerian Stock Exchange (NGX), down 1.6% from its previous closing price of NGN 36.90. Lafarge Wapco started the year at NGN 31.50 and has since risen 15.2% from that valuation, ranking it 47th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about WAPCO as the stock has risen 10% over the past four-week period—ranking 33rd best on the NGX.

Lafarge Wapco was the 39th most traded stock on the Nigerian Stock Exchange for the past three months (April 8 – July 12, 2024). WAPCO traded a total volume of 107 million shares—in 6,605 deals—valued at NGN 3.71 billion during the period, with an average of 1.7 million shares traded per session. The highest volume of 10 million was reached on April 23, and the lowest was 185,830 on May 15, for the same period.

By: Babajide Okeowo

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