Economy
Stocks to Watch Out For This Week
Analysts at Meristem Research have released stocks investors to watch out for in this trading week at the Nigerian Stock Exchange (NSE).
“Beyond fundamental valuations, stock price movement is also tied to investor sentiments. This report seeks to envisage trends and patterns using technical analysis indicators.
“Therefore, our intention with this report is not to give stock recommendation which is largely based on fundamental analysis, but to provide an alternative perspective to the outlook of market and stock prices & volume behaviour,” Meristem Research warns.
Below are the stocks:
CILEASING
In the just concluded week, the stock gained 12.26% WoW, pushing its YtD return further into the positive territory at 138.00%.
The RSI at 72.84 indicates the ticker is currently at the overbought region.
Continued upward movement is however supported by the currently bullish candlestick and the MACD which shows positive momentum.
While it is expected that the stock may continue on its positive path for the first few trading days, a negative close is highly anticipated given the likely sell pressures to be experienced on the ticker on the last trading days.
GTBank
The ticker lost by 4.00% in the week, to close at NGN37.00 settling its year to date return at 49.80%.
The RSI at 36.13 signifies that the ticker is very close to the oversold region. However, the MACD shows increasing negative sentiments on the counter.
Also, the candle shows that there are negative sentiments on the counter.
Given that the stock is currently trading close to its 5-yr high, there might be a decline in the price of the stock at the beginning of the week.
NEIMETH
The ticker led the losers’ chart last week, shedding 15.66% to close at NGN0.70.
The RSI at 23.74 signifies that the ticker has slipped into the oversold region. The MACD however, still shows strong negative momentum the counter.
The stock appears to be nearing its 4-month support zone of NGN0.64-NGN0.68. Furthermore, the breakout from below the lower Bollinger band signals a reversal in the current bearish sentiments.
Given the significant WoW loss, speculative activities may indeed lead to an upturn in the stock’s price however the company’s weak fundamentals may weigh on any expected rebound.
Zenith Bank
Following a WoW decline of 4.25%, the ticker closed the week at NGN22.10.
The RSI at 37.45 shows that the stock is approaching the oversold region.
The bearish candlesticks show that sell pressures are still quite strong on the counter. The MACD also indicated widening negative sentiments.
It appears that the downward trend on the counter may persist for a couple of trading sessions. However, given the strong fundamentals of the company, we expect bargain hunting to ensue.
NEM Insurance
Gaining 19.00% WoW, the counter emerged as last week’s top outperformer.
Although the RSI at 69.51 signifies that the stock is on the verge of crossing into the overbought region, the stock’s price graph still shows bullish candlesticks.
Similarly, the MACD signals growing positive momentum on the ticker. The breakout above the upper Bollinger band however signals a reversal in the current buy sentiments.
It is expected that the positive momentum towards the will linger for a short while however profit-taking activities are also highly likely at or shortly before the close of the week.
Source: Meristem Research
By Adedapo Adesanya
The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has said ongoing reforms and strategic policy implementation in Nigeria’s petroleum sector are driving significant investments and strengthening the country’s position as a leading energy destination in Africa.
Mr Lokpobiri stated this at the Management Retreat of the Ministry of Petroleum Resources, where he stressed the need for improved institutional performance and accountability to sustain growth in the sector.
According to the Minister, the federal government has deliberately pursued far-reaching reforms aimed at creating a stable and investor-friendly environment capable of attracting local and foreign capital into the oil and gas industry.
“From far-reaching institutional reforms to the effective implementation of strategic policies, we have remained committed to carrying all stakeholders along, fostering a conducive environment for investments to flourish,” Mr Lokpobiri said.
“As a result, our petroleum sector has witnessed significant investments that continue to strengthen Nigeria’s position as a leading energy destination.”
The Minister noted that the gains recorded in the sector were the product of collective efforts across the Ministry and its agencies, commending staff for their dedication and professionalism.
“The Management Retreat of the Ministry of Petroleum Resources provided an important platform to reiterate that these accomplishments would not have been possible without the collective dedication, professionalism and teamwork of every staff member across the Ministry and its agencies,” he stated.
Mr Lokpobiri said the retreat, themed Driving Institutional Performance and Accountability in the Petroleum Sector for Sustainable National Development, underscored the importance of continuous improvement in service delivery and operational efficiency.
Drawing lessons from the theme, he urged officials of the Ministry and regulatory agencies to intensify efforts toward enhancing institutional effectiveness and strengthening governance frameworks.
“I encouraged that we must redouble our efforts, continuously improve the quality of our services, and strengthen institutional performance,” he said.
The Minister further emphasised the continued relevance of fossil fuels in the global energy mix, stressing that Nigeria must leverage its hydrocarbon resources to drive economic growth while ensuring citizens benefit from ongoing reforms.
“With fossil fuel as the dominant source of energy, we must ensure that Nigerians experience the benefits of our progress and that Nigeria remains the preferred investment destination in Africa and a globally competitive hub for energy investments,” Mr Lokpobiri added.
By Aduragbemi Omiyale
The N3.2 billion rights issue of Universal Insurance Plc has been extended by almost two weeks after securing regulatory approval.
The exercise was earlier scheduled to close on June 10, 2026, but will now close on Monday, June 22, 2026.
The extension was granted by the Securities and Exchange Commission (SEC) after a request from the underwriting organisation.
In the rights issue, Universal Insurance is offering to shareholders 2,666,666,667 ordinary shares of 50 Kobo each at N1.20 per share on the basis of one new ordinary share for every existing six ordinary shares held as of the close of business on Monday, March 30, 2026.
Subscription for the acquisition of the company’s extra shares opened on Wednesday, May 13, 2026.
The extension gives investors more time to increase their stake in the insurance firm, which intends to use proceeds from the exercise to boost its capital base, as mandated by the National Insurance Commission (NAICOM).
Insurance companies operating in Nigeria have been given till July 31, 2026, to shore up their capital base or pack up. Operators can also explore a merger if they wish.
By Dipo Olowookere
The Nigerian Exchange (NGX) Limited opened its doors to market participants in four days last week as a result of a public holiday observed on Friday, June 12, for 2026 Democracy Day in the country.
In the week, investors bought and sold 4.964 billion shares worth N207.521 billion in 235,966 deals, as against the 3.966 billion shares valued at N175.659 billion that exchanged hands in 343,587 deals a week earlier.
Analysis showed that the financial services industry led the activity chart with 4.116 billion shares valued at N84.607 billion in 96,165 deals, contributing 82.92 per cent and 40.77 per cent to the total trading volume and value, respectively.
The services sector transacted 232.479 million shares worth N4.955 billion in 17,614 deals, while the industrial goods segment exchanged 144.988 million shares worth N39.077 billion in 24,775 deals.
Sterling Holdings, FCMB, and Access Holdings were the most traded stocks with 2.883 billion units sold for N36.188 billion in 15,533 deals, accounting for 58.09 per cent and 17.44 per cent of the total trading volume and value, respectively.
A total of 40 equities appreciated in the week versus 23 equities in the previous week, 53 equities depreciated versus 65 equities a week earlier, and 53 equities remained unchanged versus 58 equities in the preceding week.
ABC Transport was the best-performing equity for the week after it gained 25.60 per cent to trade at N7.80, Consolidated Hallmark appreciated by 23.13 per cent to N8.25, Abbey Mortgage Bank rose by 21.93 per cent to N11.40, Infinity Trust Mortgage Bank grew by 20.32 per cent to N11.25, and Austin Laz soared by 15.16 per cent to N4.33.
The worst-performing equity last week was Fidson Healthcare because of its 25.86 per cent loss, closing at N101.20. Neimeth declined by 19.14 per cent to N8.55, Union Homes REIT shed 17.36 per cent to close at N70.00, SUNU Assurances slipped by 11.38 per cent to N3.97, and Unilever Nigeria dropped 10.26 per cent to trade at N140.00.
As for the index movement, the All-Share Index (ASI) and the market capitalisation chalked up 0.88 per cent each to settle at 244,738.74 points and N156.970 trillion, respectively.
Similarly, all other indices finished higher apart from the pension, AFR Bank Value, MERI Growth, MERI Value, consumer goods, Lotus II, industrial goods, sovereign bond and commodity indices, which fell by 0.03 per cent, 1.20 per cent, 0.21 per cent, 1.61 per cent, 0.54 per cent, 0.51 per cent, 1.00 per cent, 2.04 per cent and 0.34 per cent, respectively.
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