Are you looking for places to invest your money to make gains in 2023? If your answer is yes, then you must pay attention to this article.
In this piece today, Nyscinfo will show you the list of stocks to watch to look out for, as the year progresses. These stocks include Geregu, Airtel Africa, and FBN Holdings as the exchange resumes four days of trading.
You can keep your eyes on these stocks for potential trading or investment opportunities. A list of stocks can be informally created by an investor for investment objectives. However, we went to the trouble of doing it based on specific criteria in order to spare you the trouble.
Please take note that the Nyscinfo’s Stocks Watchlist does not constitute a recommendation to buy, sell, or hold. Prior to making any investing decisions, it is essential to speak with your financial advisor.
1. FBN Holdings
In the final week of December of last year, First Bank of Nigeria Holdings (FBN) stockholders saw a loss of -7.63% of their investment value.
As trading on the stock market resumed for three days following the Christmas vacation on Monday and Tuesday, demand for FBN Holdings’ shares decreased.
The value of the FBN share decreased from N11.80kobo to N10.90kobo as a result of the decline in demand. This was sufficient to place the company among the list’s top five losers.
Investors are urged to trade cautiously when the stock market resumes for another trading week since the bears may still be trying to exit FBN.
2. Geregu Power
The power plant company continued to recover from the losses it suffered in the first and second weeks of December thanks to a N33.50kobo increase in the firm’s share price in the last week of the previous month.
In three days, this enhanced the investment worth of shareholders by 29% while Afreximbank’s FEDA confirmed that it had been granted permission to purchase a minority position in Geregu.
Geregu’s stock price increased as a result of increased demand, reaching N149 a share on December 30, 2022, up from the N115.50kobo it began trading with on December 28.
As a result of its shareholders’ 87.05% return on investment, Airtel Africa was the best-performing telecom stock on the Nigerian capital market last year.
This was higher than the 18.13% MTN Nigeria shareholders reported for the same 12-month period in 2022. In other words, investors preferred Airtel in 2022 because it delivered a higher return on investment the previous year.