Caverton, RT Briscoe, UPDC, First Bank and more top the list of stocks to watch this week

Investors in the Nigerian equity market were smiling with joy last week following strong performances on the Nigerian Exchange Group (NGX) floor by stocks such as Caverton, RT Briscoe, UPDC and First Bank Holdings (FBNH) among others.

The exchange recorded gains in three of the five trading days last week while market capitalization jumped by N607.5 billion to N56 trillion from N55.4 trillion the previous week.

Likewise, the Composite Stock Price Index (IHSG) rose 1.06% to close at 97,456.62 points from 96,433.53 points the previous week.

Market performance got a boost following sharp gains in the prices of stocks like Caverton, RT Briscoe, UPDC, First Bank Holdings 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.

CAVERTON • 2.54 ▴ 0.23 (9.96%)

The current share price of Caverton Offshore Support Group (CAVERTON) is NGN 2.54. CAVERTON closed its last trading day (Friday, September 13, 2024) at NGN 2.54 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 2.31. Caverton Offshore Support started the year at NGN 1.79 and has since gained 41.9% from that valuation, ranking it 33rd on the NGX in terms of year-to-date performance. Shareholders can be optimistic about CAVERTON knowing that the stock has gained a whopping 80% in the last four weeks alone—the fifth best performer on the NGX.

Caverton Offshore Support Group was the 46th most traded stock on the Nigerian Stock Exchange over the past three months (June 19 – September 13, 2024). CAVERTON traded a total volume of 112 million shares—in 2,499 trades—valued at NGN 191 million during the period, with an average of 1.78 million shares traded per session. The highest volume of 23.7 million was reached on September 12, and the lowest was 56,507 on July 26, for the same period.

RTBRISCOE • 3.65 ▴ 0.33 (9.94%)

The current share price of RT Briscoe (RTBRISCOE) is NGN 3.65. RTBRISCOE closed its last trading day (Friday, September 13, 2024) at NGN 3.65 per share on the Nigerian Stock Exchange (NGX), a 9.9% increase from its previous closing price of NGN 3.32. RT Briscoe started the year at NGN 0.61 and has since gained 498% from that valuation, ranking it third on the NGX in terms of year-to-date performance. Shareholders can be optimistic about RTBRISCOE as the stock has gained a whopping 115% in the last four weeks alone—the third best performer on the NGX.

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RT Briscoe was the 25th most traded stock on the Nigerian Stock Exchange for the past three months (June 19 – September 13, 2024). RTBRISCOE traded a total volume of 244 million shares—in 4,014 deals—valued at NGN 555 million during the period, with an average of 3.87 million shares traded per session. The highest volume of 22.1 million was reached on September 11, and the lowest was 108,202 on July 23, for the same period.

UPDC • 1.78 ▴ 0.16 (9.88%)

The current share price of UPDC Plc (UPDC) is NGN 1.78. UPDC closed its last trading day (Friday, September 13, 2024) at NGN 1.78 per share on the Nigerian Stock Exchange (NGX), registering a 9.9% increase from its previous closing price of NGN 1.62. UPDC started the year at NGN 1.28 and has since gained 39.1% from that price valuation, ranking it 37th on the NGX in terms of year-to-date performance.

UPDC was the 57th most traded stock on the Nigerian Stock Exchange for the past three months (June 19 – September 13, 2024). UPDC traded a total volume of 71.3 million shares—in 1,814 deals—valued at NGN 94.4 million during the period, with an average of 1.13 million shares traded per session. The highest volume of 11.6 million was reached on September 10, and the lowest was 20,520 on June 28, for the same period.

FBNH • 29.00 ▴ 2.60 (9.85%)

The current share price of FBN Holdings Plc (FBNH) is NGN 29.00. FBNH closed its last trading day (Friday, September 13, 2024) at NGN 29.00 per share on the Nigerian Stock Exchange (NGX), registering a 9.8% increase from its previous closing price of NGN 26.40. FBN started the year at NGN 23.55 and has since gained 23.1% from that price valuation, ranking it 49th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about FBNH as the stock has risen 38% in the last four-week period alone—ranking the 15th best on the NGX.

FBN Holdings was the second most traded stock on the Nigerian Stock Exchange over the past three months (June 19 – September 13, 2024). FBNH traded a total volume of 2.33 billion shares—in 17,522 deals—valued at NGN 51.2 billion during the period, with an average of 36.9 million shares traded per session. The highest volume of 871 million was reached on June 20, and the lowest was 1.41 million on August 1, for the same period.

By: Babajide Okeowo

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