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GTBank, Nestle Nigeria, Eterna Oil and Neimeth make Ripples Nigeria stock watchlist

Gtbank

GTBank, Nestle Nigeria, Eterna Oil and Neimeth make Ripples Nigeria stock watchlist

Earlier this month, Nigeria’s stock market has been struggling to move away from the bearish territory.

Last week, investors’ participation was high, but the value of trade dipped compared to the previous week.

About 2.342 billion shares worth N19.272 billion exchanged hands in 20,173 deals last week.

This figure, however, fell short of the 1.675 billion shares in 21,732 deals, and worth N23.541 billion completed a fortnight ago.

Amidst the declining stock performance last week, some off-field and on-field activities of quoted companies caught the eyes of Ripples Nigeria, and made their way into the stock watchlist.

Ripples Nigeria Stocks Watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell, or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

GTBank

The lender finally released its financial report last week, posting high earnings during COVID-19 period. The report received a positive response from investors who went after GTBank’s stock at the capital market.

Prior to the release of the report, shareholders were selling off their stakes and dragging down GTBank’s price value in the process. Also, investors were pricing the bank’s stock for cheap, but the report increased investors’ confidence in the lender before the end of last week.

Read also: Custodian Investment, Guinness, Seplat top Ripples Nigeria stock watchlist

So investors need to watch out for GTBank as its stock price is on the rise after losing over N80 billion in the first three days of last week.

Nestle Nigeria

The company appears on this list due to the activities of its parent company, Nestle S.A. The Switzerland-based company has been busy in the past three weeks. Nestle S.A purchased stocks of over N3.7 billion in the first two weeks before adding an extra N500 million last week.

Nestle S.A has been the most active shareholder in the past three weeks and this shows the high confidence the majority shareholder has in Nestle Nigeria. But still, investors need to trade with caution as always.

Eterna Oil

The oil company ended last week on the high, topping the list of best-performing stocks for the week.

Eterna gained N0.96kobo to move from N4.62kobo to N5.58kobo per share at the close of trading last week.

The development was all the more impressive considering the fact that about two weeks ago, the company was on the list of declining stocks.

The surge in Eterna’s stock price comes amid rising crude oil prices and high demand. This has increased investors’ confidence in oil companies. With last week’s performance, the company will be on investors’ radar this week.

Neimeth International

The pharmaceutical company had a bad outing at the stock market last week after ending the week on top of losers table. Neimeth stock price dropped as investors priced its shares low.

Some stakeholders also sold off their shares in the company.

They were engaging in profit-taking as Neimeth stock had risen a week before to N2.09 per share from N1.75kobo.

The investors sold their shares at N1.78kobo, not minding the loss of N0.31kobo in valuation.