Oct 12 (Lagos) - Lets take a look at couple of stocks that are getting a lot of attention (that is why we call the 'hot') over the past weeks as the stock market registered 3 consecutive weeks of gains which is something we have not seen in Nigeria since 'change' began in 2015. Needless to say this has excited investors and traders as old ones recoup some of their losses and new ones make some gains.
ETERNA Oil Plc extended its impressive bullish performance, again closing today's session as the best performing stock, with a gain of 9.92% to close at N 3.99. The shares of the manufacturer and marketer of lubricating oil and petrochemicals have been positively patronized in the last few session, driving the stock up by about 60.00% while pushing its YTD performance to +10.83%. This stock has declined considerably over the past 2 years.
International Breweries Plc (
INTBREW )could not sustain Friday's positive performance, ending the day down by 9.11% to close at N 4.29. Having gained over 40.00% in the last few sessions on the back of the recent bullish drive, investors took profit on some of the recent gains, pushing the stock to the negative region. This stock has been completely decimated over the past 2 years and has only now begin to turnaround.
Investors and traders should keep their eyes on these two stocks as they are 'heating' up again.
reporting for easykobo.com on monday, Oct 12 2020 from Lagos, Nigeria