Economy

Stocks to Watch Out For This Week

Published

9 years ago

19/09/2017

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

Economy

Food Concepts Plans 10 Kobo Interim Dividend Payout

Published

11 minutes ago

19/03/2026

Adedapo Adesanya

By Adedapo Adesanya

Food Concepts Plc, the parent company of fast food brands like Chicken Republic and PieXpress, has disclosed plans to pay 10 Kobo in interim dividend to new and existing shareholders for the 2026 financial year.

This was disclosed by the company in a notice to the NASD Over-the-Counter (OTC) Securities Exchange, where it trades its securities.

The notice indicated that the proposed interim dividend, which comes with no bonus, will be paid to those who hold the stocks of the company as of the qualification date for the dividend, which was Tuesday, March 24.

This means only those who hold the company’s shares as of the closing session will be eligible to receive the stipulated dividend payment.

The shareholders of the company will be credited with the 10 Kobo dividend on Tuesday, March 31.

The notice noted that the closure of the company’s register will be on Wednesday, March 25, through Friday, March 27, 2026, both days inclusive.

Economy

NASD Exchange Further Slips 0.39% as Sell-Offs Persist

Published

2 hours ago

19/03/2026

Adedapo Adesanya

By Adedapo Adesanya

The NASD Over-the-Counter (OTC) Securities Exchange dropped for the third consecutive session on Wednesday, March 18, by 0.39 per cent due to continued sell-offs.

In what would be the final trading session of the week due to public holidays on Thursday and Friday for Eid-el-Fitr, the NASD Unlisted Security Index (NSI) further dipped by 16.14 points to 4,114.75 points from 4,130.89 points, and the market capitalisation lost N9.66 billion to close at N2.461 trillion versus the previous day’s N2.471 trillion.

FrieslandCampina Wamco Nigeria Plc depreciated by N10.32 to sell at N112.00 per share versus N122.32 per share, NASD Plc dropped N4.50 to finish at N41.50 per unit compared with the previous session’s N46.00 per unit, and Geo-Fluids decreased by 9 Kobo to N3.02 per share from N3.11 per share.

On the flip side, Air Liquide Plc improved by N2.23 to N24.57 per unit from N22.34 per unit, Central Securities Clearing System (CSCS) Plc advanced by 90 Kobo to N76.33 per share from N75.43 per share, Food Concepts Plc rose by 24 Kobo to N3.30 per unit from N3.06 per unit, UBN Property Plc surged by 20 Kobo to N2.18 per share from N1.98 per share, Impresit Bakalori Plc jumped 16 Kobo to N1.83 per unit from N1.67 per unit, and First Trust Mortgage Bank Plc added 14 Kobo to trade at N1.89 per share versus N1.75 per share.

During the trading day, the volume of securities went up by 43,404.4 per cent to 400.8 million units from 921,265 units, the value of securities grew by 2,108.7 per cent to N1.2 billion from N54.7 million, and the number of deals soared by 23.7 per cent to 47 deals from 38 deals.

CSCS Plc ended the day as the most traded stock by value (year-to-date) with 38.7 million units valued at N2.4 billion, followed by Infrastructure Guarantee Credit Plc with 400 million units exchanged for N1.2 billion, and Okitipupa Plc with 6.4 million units traded for N1.2 billion.

Resourcery Plc finished the session as the most traded stock by volume (year-to-date) with 1.1 billion units worth N415.7 million, trailed by Infrastructure Guarantee Credit Plc with 400 million units sold for N1.2 billion, and Geo-Fluids Plc with 131.1 million units valued at N505.6 million.

Economy

Aradel, Red Star Express, Others Crash NGX by 0.69%

Published

2 hours ago

19/03/2026

Dipo Olowookere

By Dipo Olowookere

The Nigerian Exchange (NGX) experienced a pullback of 0.69 per cent as a result of profit-taking by investors, with shares in the banking and energy sectors mostly affected.

Data harvested by Business Post showed that the energy index was down by 4.58 per cent during the session, and the banking space lost 2.14 per cent.

They brought down the All-Share Index (ASI) by 1,402.56 points to 201,156.85 points from 202,559.41 points and shrank the market capitalisation by N900 billion to N129.126 trillion from N130.026 trillion.

Customs Street ended in red at midweek despite three of the five key sectors finishing in green. The consumer goods counter expanded by 1.19 per cent, the industrial goods index improved by 0.46 per cent, and the insurance sector grew by 0.43 per cent.

Red Star Express declined by 9.98 per cent to N25.70, Aradel Holdings went down by 9.68 per cent to N1,210.30, Presco lost 9.30 per cent to trade at N1,701.10, Living Trust Mortgage Bank crashed by 8.40 per cent to N4.80, and DAAR Communications dropped 7.50 per cent to end at N1.85.

On the flip side, Secure Electronic Technology gained 10.00 per cent to settle at N1.32, Guinness Nigeria rose by 9.92 per cent to N423.20, John Holt increased by 9.72 per cent to N11.85, Sovereign Trust Insurance surged by 9.57 per cent to N2.06, and Linkage Assurance chalked up 9.33 per cent to trade at N1.64.

Investor sentiment was weak yesterday after the bourse registered 33 price gainers and 38 price losers, indicating a negative market breadth index.

Market participants bought and sold 6.1 billion stocks valued at N130.1 billion in 58,562 deals compared with the 1.8 billion stocks worth N88.1 billion traded in 62,654 deals on Tuesday, representing a shortfall in the number of deals by 6.53 per cent, and a spike in the trading volume and value by 238.89 per cent and 47.67 per cent apiece.

The most active equity on Wednesday was eTranzact with 5.2 billion units sold for N24.3 billion, Wema Bank exchanged 111.4 million units worth N3.1 billion, Coronation Insurance transacted 96.4 million units valued at N303.9 million, Dangote Cement traded 75.2 million units for N56.5 billion, and Access Holdings exchanged 61.5 million units valued at N1.6 billion.