Stocks to watch on the Nigerian Stock Exchange (NSE) comprise the top gainers and losers of the prior week, as well as companies with corporate actions or expected results.
Stocks to watch is not a Buy/Sell/Hold recommendation.
FBN Holdings
FBN Holdings takes the top spot this week by virtue of being the only tier one bank yet to release its full-year 2018 results. The bank has consistently taken a spot in Nairametrics watchlist in the last few weeks., for this reason.
The holding company, in a notice sent to the NSE this week, attributed the delay of its full-year results to the inability of key subsidiaries to obtain final regulatory approval for their results, as well as the requirements for the adoption of IFRS 9.
The firm, however, stated that it expects to release the results in question on or before the 30th of April.
Ikeja Hotels
Ikeja Hotels takes the second spot this week by virtue of being the best performing stock last week. The stock gained 20.21% and could rise further in the week, depending on market sentiments.
Unilever Plc
Unilever Plc’s qualification date of April 12, 2019, grants the firm a spot on this week’s watchlist.
There may be heavy trading in the company’s shares as investors may decide to offload shortly after the qualification date.
Chams Plc
Chams Plc traded heavy volumes last week and was one of the top three best-performing stocks. The rally is largely due to the declaration of a dividend after close to a decade of non-payment.
Investors may continue to take positions in the company for this trading week.
Eterna Plc
Eterna Plc takes the last spot this week, by virtue of being the worst performing stock. The stock declined by 24.53% and could witness a rebound if bargain hunters take positions.