SOVRENINS, Julius Berger, Oando UACN and more are on the list of stocks to watch this week

As July draws to a close, investors had a tough week last week in the equity markets.

Nigerian equity markets lost in four of the five trading sessions as the benchmark All Share Index (ASI) plunged -2.33% to close at 98,201.49 from 100,539.40 points in the previous week.

Similarly, investors lost N1.32 trillion as market capitalization fell to N55.61 trillion from N56.93 trillion the previous week.

However, amidst the poor performance of the stock exchange, stocks such as SOVRENINS, Julius Berger, Oando and UACN are still performing 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.

SOVRENIN • 0.56 ▴ 0.01 (1.82%)

The current share price of Sovereign Trust Insurance (SOVRENINS) is NGN 0.56. SOVRENINS closed its last trading day (Friday, July 26, 2024) at NGN 0.56 per share on the Nigerian Stock Exchange (NGX), up 1.8% from its previous closing price of NGN 0.55. Sovereign Trust started the year at NGN 0.42 and has since gained 33.3% from that valuation, ranking it 25th on the NGX in terms of year-to-date performance. Shareholders can be optimistic about SOVRENINS knowing that the stock has risen 24% in the last four weeks alone—the sixth best performer on the NGX.

Sovereign Trust Insurance was the 48th most traded stock on the Nigerian Stock Exchange over the past three months (April 25 – July 26, 2024). SOVRENINS traded a total volume of 83.6 million shares—in 1,163 deals—valued at NGN 37.8 million during the period, with an average of 1.33 million shares traded per session. The highest volume of 7.57 million was reached on June 11, and the lowest volume of 17,113 was reached on May 27, for the same period.

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JBERGER • 97.00 ▴ 4.50 (4.86%)

The current share price of Julius Berger Nigeria Plc (JBERGER) is NGN 97.00. JBERGER closed its last trading day (Friday, July 26, 2024) at NGN 97.00 per share on the Nigerian Stock Exchange (NGX), registering a 4.9% increase from its previous closing price of NGN 92.50. Julius Berger started the year at NGN 43.00 and has since risen 126% from that valuation, placing it fourth on the NGX in terms of year-to-date performance.

Julius Berger Nigeria was the 60th most traded stock on the Nigerian Stock Exchange during the last three months (April 25 – July 26, 2024). JBERGER traded a total volume of 48.5 million shares—in 4,537 deals—valued at NGN 4.06 billion during the period, with an average of 769,251 shares traded per session. The highest volume of 17.6 million was reached on May 23, and the lowest was 12,252 on July 11, for the same period.

OANDO • 20.35 ▴ 1.85 (10%)

The current share price of Oando Plc (OANDO) is NGN 20.35. OANDO closed its last trading day (Friday, July 26, 2024) at NGN 20.35 per share on the Nigerian Stock Exchange (NGX), a 10% increase from its previous closing price of NGN 18.50. Oando started the year at NGN 10.50 and has since gained 93.8% from that valuation, ranking it eighth on the NGX in terms of year-to-date performance. Shareholders can be optimistic about OANDO as its shares have risen 36% in the last four-week period alone—the second best on the NGX.

Oando was the 15th most traded stock on the Nigerian Stock Exchange for the past three months (April 25 – July 26, 2024). OANDO traded a total volume of 747 million shares—in 17,180 transactions—valued at NGN 11.3 billion during the period, with an average of 11.9 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.

UACN • 15.80 ▾ 0.15 (0.94%)

The current share price of UAC Nigeria (UACN) is NGN 15.80. UACN closed its last trading day (Friday, July 26, 2024) at NGN 15.80 per share on the Nigerian Stock Exchange (NGX), a decline of 0.9% from its previous closing price of NGN 15.95. UAC started the year at NGN 12.85 and has since risen 23% from that price valuation, ranking it 35th on the NGX in terms of year-to-date performance.

UAC Nigeria was the 27th most traded stock on the Nigerian Stock Exchange during the last three months (April 25 – July 26, 2024). UACN traded a total volume of 167 million shares—in 3,418 deals—valued at NGN 2.45 billion during the period, with an average of 2.65 million shares traded per session. The highest volume of 46.4 million was reached on June 27, and the lowest was 34,930 on May 31, for the same period.

By: Babajide Okeowo

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