Market Watch: Stocks To Watch Out For This Week

Market Watch: Stocks To Watch Out For This Week
Trading ongoing in the Nigerian Stock Exchange
Trading ongoing in the Nigerian Stock Exchange

This week beginning from August 6 to 12, 2018, Nairametrics, Nigeria’s leading financial resource company, brings us the top stocks to watch out for and make some investing decisions.
The stocks to watch comprises stocks that were the top gainers and losers in the previous week, those that released their results after trading hours, stocks having corporate actions, and those in the news for one reason or the other.
1. Union Diagnostic and Clinical Services Plc
Union Diagnostic tops the watch list this week by virtue of being last week’s biggest gainer. The stock appreciated by 50% and could either witness a selloff from investors that got in, or a rally from those intending to buy in.
The company will also be holding its Annual General Meeting (AGM) this week.
2. Smart Products Plc
Smart Products Plc was the biggest loser last week, hence its spot on the watchlist. The stock could drop further this week, despite being thinly traded.
3. STACO Insurance Plc
STACO Insurance gets a spot on the watch list this week by virtue of a notice sent to the NSE informing the investing public of its dismissal of Sakiru Oyefeso, its founding Chief Executive Officer.
The move, according to the statement, was due to misappropriation of funds, and breach of corporate governance best practice.
Bayo Fakorede has been appointed as the new Chief Executive Officer, subject to approval by the National Insurance Commission (NAICOM).
Investors may decide to either sell off the stock or buy in depending on sentiments towards the new CEO.
4. EKO Corp Plc
EKO Corp (parent company of the popular EKO Hospital) is on the watch list due to its release of results for the first quarter ended March 2018 after closing hours. Turnover dropped from N367 million in 2017 to N362 million in 2018.
The company made a loss before tax of N66.5 million in 2018, as against a profit before tax of N56.2 million in the comparative period of 2017.
Loss after tax stood at N66.5 million, as against a profit after tax of N54.7 million made in 2017.
5. Unity Kapital Assurance Plc
Unity Kapital makes this watch list by virtue of its full-year 2017 results being released after trading hours. Gross premium written increased from N2.1 billion in 2016 to N2.4 billion in 2017.
The company made a loss before tax of N558 million in 2017, as against a profit before tax of N408 million in 2016.
It also made a loss after tax of N700 million in 2017 as against a profit after tax of N285 million made in the comparative period of 2016. Investors may decide to sell off the stock in view of the poor results.
6. C&I Leasing Plc
C&I Leasing is on the list by virtue of the company’s planned Facts Behind the Figures presentation scheduled for this week. During such events, companies usually provide an insight into their plans for the rest of the year.
7. Zenith Bank Plc
Zenith Bank is on the watch list by virtue of the impending release of its H1 2018 results. The bank had, in a notice released a few weeks ago, stated that the results had been sent to the Central Bank of Nigeria (CBN) for approval.
8. PZ Cussons Nigeria Plc
PZ Cussons Nigeria is on the list by virtue of the impending release of its full-year results. In the last few years, the company has released its audited full-year results in the first or second week of August.

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