MTNN, Zenith, FBNH, Oando, and others are on the list of top stocks to watch this week

Nigerian equity markets reversed losses recorded in the first trading week of August to post relatively profitable trading last week.

The stock exchange strengthened in three of the five trading sessions as the All Share Index (ASI) rose +0.87% and closed the week at 98,592.12 points from 97,745.73 points in the previous week.

Additionally, investors gained N480.8 billion as market capitalization rose to N55.9 trillion from N55.5 trillion the previous week.

This positive increase was triggered by the positive performance of stocks such as MTNN, Zenith Bank, FBNH and Oando which 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.

MTNN • 199.80 ▴ 1.80 (0.91%)

The current share price of MTN Nigeria (MTNN) is NGN 199.80. MTNN closed its last trading day (Friday, August 9, 2024) at NGN 199.80 per share on the Nigerian Stock Exchange (NGX), registering a 0.9% increase from its previous closing price of NGN 198.00. MTN started the year at NGN 264.00 but has since fallen 24.3% from that valuation, placing it at 137th on the NGX in terms of year-to-date performance.

MTN Nigeria was the 45th most traded stock on the Nigerian Stock Exchange during the last three months (May 10 – August 9, 2024). MTN Nigeria traded a total volume of 85.7 million shares—in 21,653 transactions—valued at NGN 17.6 billion during the period, with an average of 1.36 million shares traded per session. The highest volume of 6.47 million was reached on August 5, and the lowest volume of 78,489 was recorded on May 22, for the same period.

FBNH • 22.50 ▴ 0.15 (0.67%)

The current share price of FBN Holdings Plc (FBNH) is NGN 22.50. FBNH closed its last trading day (Friday, August 9, 2024) at NGN 22.50 per share on the Nigerian Stock Exchange (NGX), registering a 0.7% increase from its previous closing price of NGN 22.35. FBN started the year at NGN 23.55 but has since fallen 4.46% from that valuation, placing it at 111th on the NGX in terms of year-to-date performance.

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FBN Holdings was the third most traded stock on the Nigerian Stock Exchange during the last three months (May 10 – August 9, 2024). FBNH traded a total volume of 2.15 billion shares—in 16,752 transactions—valued at NGN 46.9 billion during the period, with an average of 34.2 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.

OANDO • 40.60 ▴ 3.65 (9.88%)

The current share price of Oando Plc (OANDO) is NGN 40.60. OANDO closed its last trading day (Friday, August 9, 2024) at NGN 40.60 per share on the Nigerian Stock Exchange (NGX), registering a 9.9% increase from its previous closing price of NGN 36.95. Oando started the year at NGN 10.50 and has since gained 287% 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 148% in the last four weeks alone—the best on the NGX.

Oando was the 11th most traded stock on the Nigerian Stock Exchange for the past three months (May 10 – August 9, 2024). OANDO traded a total volume of 925 million shares—in 20,618 transactions—valued at NGN 17.6 billion during the period, with an average of 14.7 million shares traded per session. The highest volume of 73 million was reached on July 26, and the lowest was 1.43 million on May 24, for the same period.

ZENITHBANK • 38.85 ▴ 0.85 (2.24%)

The current share price of Zenith Bank Plc (ZENITHBANK) is NGN 38.85. ZENITHBANK closed its last trading day (Friday, August 9, 2024) at NGN 38.85 per share on the Nigerian Stock Exchange (NGX), registering a 2.2% increase from its previous closing price of NGN 38.00. Zenith started the year at NGN 38.65 and has since gained 0.52% from that price valuation, placing it at the 75th position on the NGX in terms of year-to-date performance.

Zenith Bank was the fourth most traded stock on the Nigerian Stock Exchange during the last three months (May 10 – August 9, 2024). ZENITHBANK traded a total volume of 1.56 billion shares—in 32,467 trades—valued at NGN 54.9 billion during the period, with an average of 24.7 million shares traded per session. The highest volume of 111 million was reached on May 31, and the lowest was 4.86 million on May 17, for the same period.

By: Babajide Okeowo

MTNN, Zenith, FBNH, Oando others top the list of stocks to watch this week first appeared on Latest Nigeria News | Headlines from Ripples Nigeria.