The market opened for four trading sessions this week, as the Federal Government of Nigeria declared Friday 30th March 2018(Good Friday) and Monday 2nd April 2018(Easter Monday) as public holidays.
Meanwhile, a total turnover of 1.541 billion shares worth N16.647 billion in 18,805 deals was traded this week by investors on the floor of the Exchange in contrast to a total of 2.328 billion shares valued at N28.927 billion that exchanged hands last week in 25,530 deals.
Going into this new week, we have assembled a list of stocks to watch out for which can be found below.
DANGOTE SUGAR REFINERY PLC
Late last week, Dangote Sugar released its financial statements for the year ended December 2017. The company declared a dividend of N1.25 per share. The stock could witness some upside this week as investors position for dividends. Analysts believe that this upside might occur even though investors may have already factored in the good results following the massive price appreciation of the stock last year. The stock is up 9% year to date.
Fig 1.1. Dangote Sugar
GSK CONSUMER NIGERIA PLC
GSK Consumer Nigeria has been a regular in the top gainers for the past two weeks, most times topping the list. This happened as a result of the special dividend announced, which saw investors buying into the stock in order to qualify for this special dividend. The stock closed at N34 last week and is up 57.33% year to date.
Fig 1.2. Glaxo SmithKline Consumer Nigeria Stock
FBN Holdings PLC
FBN is the only FUGAZ/Tier One bank yet to release its financial statement for the year 2017. In a notice to the NSE, it had indicated that it would do so sometime in April. Analysts believe the stock will follow a similar trend to the other tier one banks who released their statements so there might be an increase in the stock price. Year to date, the stock is up 42.99%.
Fig 1.3. FBNH Holdings Plc
DIAMOND BANK PLC
Diamond bank is also yet to release its financial statements for the year ended December 2017. Though the stock has shed much of its earlier gains this year, it is up 24% year to date, closing at N1.86 on Friday’s trading session. Diamond could have a slight uptick as investors take positions in anticipation of the release of its results.
Fig 1.4. Diamond Bank
