Geregu, Fidson, Vitafoam, Fidelity Bank, and others are on the list of stocks to watch this week

Investors in the Nigerian equity market enjoyed a profitable trading session on the floor of the Nigerian Exchange Group (NGX) last week.

The exchange recorded gains in three of the four trading days of the week while market capitalization rose to N56.46 trillion from N56.00 trillion the previous week.

Monday, September 16 was declared a public holiday by the Federal Government to commemorate Eid al-Maulood.

Likewise, the Composite Stock Price Index (IHSG) rose 0.81% to close at 98,247.99 points from 97,456.62 points the previous week.

Market performance was boosted following the soaring prices of stocks such as Geregu, Fidson, Vitafoam, Fidelity Bank 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.

FIDSON • 15.95 ▴ 1.45 (10%)

The current share price of Fidson Healthcare (FIDSON) is NGN 15.95. FIDSON closed its last trading day (Friday, September 20, 2024) at NGN 15.95 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 14.50. Fidson Healthcare started the year at NGN 17.50 but has since lost 8.86% of that valuation, ranking it 123rd on the NGX in terms of year-to-date performance. Shareholders’ concerns may be alleviated by the 16% increase in FIDSON’s share price since August 22, which is the 29th best on the NGX.

Fidson Healthcare was the 80th most traded stock on the Nigerian Stock Exchange for the past three months (June 25 – September 20, 2024). FIDSON traded a total volume of 23.6 million shares—in 2,062 deals—valued at NGN 332 million during the period, with an average of 374,469 shares traded per session. The highest volume of 7.15 million was reached on September 20, and the lowest volume of 7,183 was reached on June 26, for the same period.

FIDELITYBK • 13.60 ▴ 1.20 (9.68%)

The current share price of Fidelity Bank Plc (FIDELITYBK) is NGN 13.60. FIDELITYBK closed its last trading day (Friday, September 20, 2024) at NGN 13.60 per share on the Nigerian Stock Exchange (NGX), registering a 9.7% increase from its previous closing price of NGN 12.40. Fidelity started the year at NGN 10.85 and has since gained 25.4% from that valuation, ranking it 48th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about FIDELITYBK as the stock has risen 28% in the last four-week period alone—the 20th best performer on the NGX.

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Fidelity Bank was the most traded stock on the Nigerian Stock Exchange for the past three months (June 25 – September 20, 2024). FIDELITYBK traded a total volume of 3.77 billion shares—in 19,232 trades—valued at NGN 39.7 billion during the period, with an average of 59.9 million shares traded per session. The highest volume of 1.33 billion was reached on July 31, and the lowest volume of 780,473 was recorded on August 30, for the same period.

TEAM • 1,150.00 0.00

The current share price of Geregu Power Plc (GEREGU) is NGN 1,150.00. GEREGU closed its last trading day (Friday, September 20, 2024) at NGN 1,150.00 per share on the Nigerian Stock Exchange (NGX). Geregu Power started the year at NGN 399.00 and has since risen 188% from that valuation, ranking it sixth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about GEREGU as its shares have gained 15% over the past four-week period—ranking the 32nd best on the NGX.

Geregu Power was the 100th most traded stock on the Nigerian Stock Exchange for the past three months (June 25 – September 20, 2024). GEREGU traded a total volume of 5.96 million shares—in 2,422 deals—valued at NGN 5.63 billion during the period, with an average of 94,680 shares traded per session. The highest volume of 1.27 million was reached on September 18, and the lowest was 84 on August 14, for the same period.

VITAFOAM • 22.00 0.00

The current share price of Vitafoam Nigeria (VITAFOAM) is NGN 22.00. VITAFOAM closed its last trading day (Friday, September 20, 2024) at NGN 22.00 per share on the Nigerian Stock Exchange (NGX).

Vitafoam Nigeria was the 82nd most traded stock on the Nigerian Stock Exchange for the past three months (June 25 – September 20, 2024). VITAFOAM traded a total volume of 19.2 million shares—in 2,055 deals—valued at NGN 370 million during the period, with an average of 304,440 shares traded per session. The highest volume of 1.2 million was reached on July 19, and the lowest was 15,239 on June 27, for the same period.

By: Babajide Okeowo

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