The NSE All-Share index closed last week down 1.11% year to date. Month to date, the index is also down 4.29%. As we begin the last trading week of March today, will the market close up or down?
Here is a list of stocks investors should keep their eyes on.
UBA Plc released its results for the year ended December 2017 late Friday. Investors may have factored the expected bumper results that were released by tier one banks, going by their lukewarm reactions upon release by tier one peers Access, GT and Zenith Year to date. UBA is up 10.61%
GSK Consumer Nigeria
GSK was last week’s biggest gainer with a 21.45% gain. The stock is up18% year to date, leaving room for more upside as investors could decide to take a position to benefit from the dividends.
GSK declared a special dividend of N7.10 per share and a regular dividend of N0.40 per share. The dividends will be paid from its retained earnings from the sale of its drinks unit and pioneer benefits.
Fidelity Bank Plc
Fidelity Bank gained 17.75% last week, making it the 2nd best performing stock. Investors could decide to turn their attention to tier two banks, as they prepare to release their results.
Investors could also decide to key into the stock in expectation of a bumper dividend. The bank’s results for the 9 months ended September 2017 show that gross earnings increased from N110 billion in 2016 to N130 billion in 2017. Profit before tax also jumped massively from N9.8 billion in 2016 to N16.2 billion in 2017.
MRS Plc late last week Friday released its financial statements for the period ended December 2017. While the results were largely flat with the company making a profit after tax of N1.3 billion due to a tax credit, MRS has decided to reward shareholders with a 1 for 5 bonus.
Investors could thus decide to take a position in order to qualify for the bonus issue. Year to date, the stock is down 1.68%, leaving room for some upside.