Stocks to watch comprises the top gainers and losers from the previous week, companies having corporate actions, as well as those that released their results after trading hours.
Stocks to watch is not a Buy/Sell/Hold list
Diamond Bank Plc
Diamond Bank Plc tops our watch-list for this week. The bank has been in the news in the last few weeks over reports that new investors may inject capital into the lender.
While the bank has denied this severally, the reports have remained persistent. Yet unconfirmed reports that broke on Saturday indicate that the bank may be one of three flagged by the CBN for having liquidity ratios below regulatory requirements.
News of likely investors led to a rise in the bank’s share price, before a decline last week.
Presco has a spot in our watch-list this week by virtue of being the best performing stock last week.
The stock opened at ₦53 and closed at ₦59.85, up 12.92% or ₦6.85. If bearish sentiments in the market persist, investors could decide to cash their gains.
Unity Bank Plc
Unity Bank Plc has a spot on our watch-list by virtue of being the worst performing stock last week. The stock opened at ₦0.90 and closed at ₦0.71, down ₦0.19.The stock could decline further this week.
The downward trend may be partly due to the brief suspension placed on the stock by the NSE for failing to release its results when due. The results were released shortly after, and the suspension lifted the next day.
UAC of Nigeria Plc
UAC of Nigeria Plc has a spot on our watch-list by virtue of an upcoming investor conference call, following the release of its results for the third quarter ended September 30, 2018.
Management will be on the hot seat as the company may be in line to delivering its worst performance in the last 5 years.
The stock had slipped to a new 5 year low of ₦9 per share and could drop further in this new trading week.