Transcorp, First Bank and Fidelity Bank are stocks to watch this week

 

Transnational Corporation (Transcorp), First Bank and Fidelity Bank are stocks to watch this week following various activities on their shares in the Nigerian stock market.

Ripples Nigeria stocks watchlist is a selection of stocks monitored for viable trading or investing opportunities. An investor may casually generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Kindly note that Ripples Nigeria Stocks Watchlist is not a buy, sell or hold recommendation. It is advisable to consult your financial advisor before making any investment decision.

Transnational Corporation

Transnational Corporation (Transcorp) share is red hot in the stock market following reports that Femi Otedola has acquired over five per cent stake in the firm.

The investment company is yet to confirm Otedola’s acquisition, but reports of his presence on the Transcorp exchange floor were enough to drive the equity up by 23.36 per cent.

Due to renew demands for Transcorp shares, the firm closed last week as the best gainers and will open this week from the position, however, the rise in share value also gives profit-takers a reason to sell off.

So, investors should trade with caution as the stock market resumes this week.