Oando, Katakan, Transcorp, Skyway Aviation and more are on the list of stocks to watch this week

Investors in the Nigerian equity market had mixed results last week as the exchange recorded three gains and two losses during the period.

The benchmark All-Share Index (ASI) fell -1.16% and closed the week at 95,973.45 points from 97,100.31 in the previous week.

Similarly, investors lost N2.4 billion as market capitalization fell to N55.12 trillion from N55.13 trillion the previous week.

Last week’s recovery from the N846 billion loss recorded two weeks ago was fueled by positive performance of stocks such as Oando, Katakan, Transcorp and Skyway Aviation.

This makes the quartet 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.

SKYWAY FLIGHT • 26.40 0.00

The current share price of Skyway Aviation Handling Co. Plc (SKYAVN) is NGN 26.40. SKYAVN closed its last trading day (Friday, August 23, 2024) at NGN 26.40 per share on the Nigerian Stock Exchange (NGX). Skyway Aviation Handling started the year at NGN 25.35 and has since risen 4.14% from that valuation, ranking it 72nd on the NGX in terms of year-to-date performance. Shareholders can be optimistic about SKYAVN as its shares have risen 29% in the past four weeks alone—the ninth best performer on the NGX.

Skyway Aviation Handling Co. was the 79th most traded stock on the Nigerian Stock Exchange during the last three months (May 24 – August 23, 2024). SKYAVN traded a total volume of 22.5 million shares—in 692 deals—valued at NGN 484 million during the period, with an average of 357,626 shares traded per session. The highest volume of 12 million was reached on June 26 for the same period.

OANDO • 47.85 ▴ 4.35 (10%)

The current share price of Oando Plc (OANDO) is NGN 47.85. OANDO closed its last trading day (Friday, August 23, 2024) at NGN 47.85 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 43.50. Oando started the year at NGN 10.50 and has since gained 356% 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 135% in the last four weeks 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 24 – August 23, 2024). OANDO traded a total volume of 1.15 billion shares—in 27,612 transactions—valued at NGN 27.8 billion during the period, with an average of 18.2 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.

TRANSCORP • 12.00 ▴ 0.50 (4.35%)

The current share price of Transcorp Nigeria (TRANSCORP) is NGN 12.00. TRANSCORP closed its last trading day (Friday, August 23, 2024) at NGN 12.00 per share on the Nigerian Stock Exchange (NGX), registering a 4.3% increase from its previous closing price of NGN 11.50. Transcorp started the year at NGN 8.66 and has since gained 38.6% from that price valuation, ranking it 27th on the NGX in terms of year-to-date performance.

Transcorp Nigeria was the 13th most traded stock on the Nigerian Stock Exchange for the past three months (May 24 – August 23, 2024). TRANSCORP traded a total volume of 836 million shares—in 18,708 deals—valued at NGN 9.79 billion during the period, with an average of 13.3 million shares traded per session. The highest volume of 125 million was reached on June 28, and the lowest was 2.64 million on August 2, for the same period.

UCAP • 19.75 ▴ 1.50 (8.22%)

The current share price of United Capital Plc (UCAP) is NGN 19.75. UCAP closed its last trading day (Friday, August 23, 2024) at NGN 19.75 per share on the Nigerian Stock Exchange (NGX), registering an 8.2% increase from its previous closing price of NGN 18.25. United Capital started the year at NGN 23.00 but has since lost 14.1% of its valuation, ranking it 130th on the NGX in terms of year-to-date performance. Adding to shareholder concerns is the fact that UCAP has lost 49% of its share value since July 26 to date.

United Capital was the 15th most traded stock on the Nigerian Stock Exchange for the past three months (May 24 – August 23, 2024). UCAP traded a total volume of 748 million shares—in 23,348 deals—valued at NGN 19.6 billion during the period, with an average of 11.9 million shares traded per session. The highest volume of 74.4 million was reached on August 7, and the lowest was 663,452 on June 6, for the same period.

By: Babajide Okeowo

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