Presco, Total, Okomu Oil, Oando and others top the list of stocks to watch this week

It was a missed result in the Nigerian equity market in the first trading of August.

The stock market lost in three of the five trading sessions as the benchmark All Share Index (ASI) fell by -0.46% to close at 97,745.73 points in the previous week from 98,201.49 points.

Similarly, investors lost N107.7 billion as market capitalization fell to N55.5 trillion from N55.6 trillion the previous week.

However, amid the poor performance of the stock exchange, stocks such as Presco, Total Plc, Okomu Oil and Oando still performed well, 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.

TOTAL • 427.70 ▴ 38.80 (9.98%)

The current share price of Total Nigeria (TOTAL) is NGN 427.70. TOTAL closed its last trading day (Friday, August 2, 2024) at NGN 427.70 per share on the Nigerian Stock Exchange (NGX), up 10% from its previous closing price of NGN 388.90. Total started the year at NGN 385.00 and has since gained 11.1% from that valuation, ranking it 60th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about TOTAL knowing that the stock has gained 10% over the past four-week period—the 16th best performer on the NGX.

Total Nigeria was the 106th most traded stock on the Nigerian Stock Exchange during the last three months (May 3 – August 2, 2024). TOTAL traded a total volume of 2.88 million shares—in 2,666 deals—valued at NGN 1.11 billion during the period, with an average of 45,638 shares traded per session. The highest volume of 463,079 was reached on June 11, and the lowest volume of 624 was reached on June 6, for the same period.

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OANDO • 25.30 ▴ 2.30 (10%)

The current share price of Oando Plc (OANDO) is NGN 25.30. OANDO closed its last trading day (Friday, August 2, 2024) at NGN 25.30 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 23.00. Oando started the year at NGN 10.50 and has since gained 141% from that valuation, ranking it fifth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about OANDO as the stock has risen 49% in the last four weeks alone—the best on the NGX.

Oando was the 12th most traded stock on the Nigerian Stock Exchange during the last three months (May 3 – August 2, 2024). OANDO traded a total volume of 820 million shares—in 19,194 transactions—valued at NGN 13.5 billion during the period, with an average of 13 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.

PRESCO • 441.00 ▴ 28.00 (6.78%)

The current share price of Presco Plc (PRESCO) is NGN 441.00. PRESCO closed its last trading day (Friday, August 2, 2024) at NGN 441.00 per share on the Nigerian Stock Exchange (NGX), up 6.8% from its previous closing price of NGN 413.00. Presco started the year with a share price of NGN 193.00 and has since gained 129% from that valuation, ranking it sixth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about PRESCO as its shares have risen 25% in the last four weeks alone—ranking the seventh best on the NGX.

Presco was the 81st most traded stock on the Nigerian Stock Exchange for the past three months (May 3 – August 2, 2024). PRESCO traded a total volume of 23.9 million shares—in 6,118 deals—valued at NGN 7.6 billion during the period, with an average of 380,033 shares traded per session. The highest volume of 3.09 million was reached on May 6, and the lowest was 8,829 on May 17, for the same period.

OKOMUOIL • 321.20 ▴ 29.20 (10%)

The current share price of Okomu Oil Palm (OKOMUOIL) is NGN 321.20. OKOMUOIL closed its last trading day (Friday, August 2, 2024) at NGN 321.20 per share on the Nigerian Stock Exchange (NGX), up 10% from its previous closing price of NGN 292.00. Okomu Oil Palm started the year at NGN 260.00 and has since gained 23.5% from that valuation, ranking it 36th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about OKOMUOIL as the stock has gained 10% over the past four-week period—the 15th best performer on the NGX.

Okomu Oil Palm was the 95th most traded stock on the Nigerian Stock Exchange for the past three months (May 3 – August 2, 2024). OKOMUOIL traded a total volume of 6.77 million shares—in 3,636 trades—valued at NGN 1.89 billion during the period, with an average of 107,426 shares traded per session. The highest volume of 600,334 was reached on July 19, and the lowest was 1,929 on August 1, for the same period.

By: Babajide Okeowo

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