Welcome back to Stock Watch with Rafiki — your AI-powered stock market analyst. Each week, Rafiki looks into the NGX, tracking the All-Share Index (ASI), top gainers and top losers in the market, and breaking down the key fundamentals driving market sentiment. Rafiki will recommend the stocks to have on your radar and share the latest insights to help you on your investment journey.
So, let’s see what wisdom Rafiki has for us this week — which stocks are ruling the Pride Lands, and which are fighting to survive?
Market Performance
The Nigerian stock market dipped slightly on June 10, with the All-Share Index (ASI) falling by 0.52% to close at 114,017.48, a drop of 599.27 points from the previous session. The dip was largely driven by profit-taking in large-cap stocks like Dangote Cement, Aradel, and MTNN. Despite the slip, the index remains firmly above the 114,000 mark and has returned +10.78% year-to-date.
Gainers & Losers
Top Gainers (blended from June 10 & June 5):
- DAARCOMM: +10.00% (₦0.66)
- BERGER: +10.00% (₦22.55)
- ETRANZACT: +10.00% (₦6.60)
- LEGENDINT: +9.93% (₦5.87)
- OMATEK: +8.22% (₦0.79)
- OANDO: +7.65% WoW (₦12.70)
- LASACO: +6.45% WoW (₦3.60)
- CORNERSTONE: +5.92% WoW (₦3.92)
- FIRSTHOLDCO: +5.88% WoW (₦29.40)
- FIDSON: +5.71% WoW (₦31.80)
Top Losers:
- RTBRISCOE: -10.00% (₦2.25)
- JOHNHOLT: -9.87% (₦6.85)
- BETAGLAS: -9.69% (₦210.10)
- ARADEL: -9.09% (₦500.00)
- DEAPCAP: -8.16% (₦0.90)
- LEGENDINT: -7.01% WoW (₦5.34)
- LIVESTOCK FEEDS: -6.82% WoW (₦8.25)
- LEARN AFRICA: -6.52% WoW (₦3.85)
- CONOIL: -6.42% WoW (₦268.30)
- NNFM: -6.27% WoW (₦125.05)
Trading Activity
Trading volume dropped sharply to 652.6 million shares, a steep decline from over 1.28 billion shares in the previous session. ACCESSCORP led the volume chart with 88.2 million shares, followed by ZENITHBANK (49.3M), GTCO (47.2M), FIDELITYBK (42.9M), and WAPIC (34.9M).
In terms of value, GTCO led the pack with ₦3.3 billion in trades, while ZENITHBANK (₦2.5B), ACCESSCORP (₦1.9B), ARADEL (₦1.8B), and Nigerian Breweries (₦1.7B) followed closely.
SWOOTs & FUGAZ
Among the trillion-naira club (SWOOTs), BUA Foods stood out with a 4.32% gain, while Dangote Cement, MTNN, and Aradel dragged the index down with losses between 2.88% and 9.09%.
The FUGAZ banks showed mixed results:
- UBA: +1.94%
- GTCO: +1.64%
- FIRSTHOLDCO: +1.36%
- ZENITHBANK: -0.89%
- ACCESSCORP: -4.74%
Outlook
Despite short-term pullbacks, the ASI remains above the 114,000 mark, suggesting market resilience. Momentum from large- and mid-cap stocks could drive a bounce back, especially if buying interest returns to heavyweight counters.
Buy, Sell, or Hold? Rafiki’s Recommendations
- Total Energies
Price: N664.0
P/E ratio: 15.08
Market Cap: 215.6B
Recommendation: Hold
Total Energies recorded a rough Q1 2025, slipping into a ₦120 million net loss compared to a ₦11.5 billion profit a year ago, and its revenue dropped by 18% to ₦221.6 billion due to reduced fuel sales. Although margins haven’t completely collapsed, the loss and sharp revenue decline signal that the company is being squeezed by domestic market shifts and rising competition. With the stock trading at ₦664 and a P/E of 15.08, the valuation appears high given the current financial strain. Until Total Energies delivers a return to profitability or stabilizes its revenue, it’s best to Hold rather than buy or sell.
- UAC
Price: N34.00
P/E ratio: 8.13
Market Cap: 99.49B
Recommendation: Buy
UAC of Nigeria Plc delivered a solid Q1 2025 performance, posting ₦56.0 billion in revenue, a 38% YoY increase, and ₦3.09 billion in net profit compared to ₦5.41 billion in Q1 2024. Although earnings per share dipped from 185 kobo to 106 kobo due to one-off gains in the previous year, the underlying performance tells a stronger story—underlying PBT rose 48% YoY, and the group’s operating profit nearly doubled to ₦6.8 billion, with margins expanding to 12.2%. Each core segment — Edibles & Feed, Paints, Packaged Foods— posted double-digit revenue growth and improved profitability, supported by effective cost control and pricing power. With a P/E of 8.13 and market cap of ₦99.49 billion, the current valuation appears undervalued given its diversified earnings base and strong execution. Therefore, Buy is recommended for investors looking to gain exposure to Nigeria’s recovery in consumer and industrial sectors.
- John Holt
Price: N6.20
P/E ratio: 1.30
Market Cap: 2.41B
Recommendation: Sell
John Holt Plc posted a ₦165 million net loss in Q2 2025, compared to a ₦260 million profit in the same period last year, largely due to a steep 77% drop in revenue from ₦2.43 billion to ₦565 million. Despite improving cash flows — closing the period with ₦257 million in cash against ₦22 million a year ago — the core business remains in decline. With a P/E ratio of just 1.30, the valuation reflects this distress, but bears little upside until sales rebound and profitability is restored. Until John Holt demonstrates consistent revenue growth and sustainable earnings, the stock appears better suited for avoidance or light exposure, so a Sell recommendation is warranted.
- Beta Glass
Price: N210.30
P/E ratio: 5.68
Market Cap: 132.53B
Recommendation: Buy
Beta Glass Plc is demonstrating spectacular growth, with Q1 2025 revenue soaring 69% to ₦41.2 billion and profit after tax jumping nearly 600% to ₦9.995 billion. The sharp increase in operating margin—from 8.9% to 36.6%—and a similarly robust rise in EBITDA margin underscore strong operational efficiency. Earnings per share surged from ₦2.40 to ₦16.66, highlighting impressive shareholder value delivery. With a P/E of 5.68 and a current price of ₦210.30, the stock is attractively valued given its growth trajectory. The company’s ability to leverage booming domestic demand and maintain tight cost control supports a Buy recommendation for investors seeking high-growth exposure in Nigeria’s manufacturing sector.
- Sterling Bank
Price: N5.97
P/E ratio: 4.97
Market Cap: 268.2B
Recommendation: Buy
Sterling Bank, trading at ₦5.97 with a P/E of 4.97, delivered a strong FY 2024 performance despite delayed filings. The bank reported a 97% increase in pre-tax profit to ₦44.75 billion and a sharp 67.1% growth in net interest income, indicating robust lending and interest margin expansion. Earnings per share improved to 129 kobo, up from 75 kobo in 2023, while profit after tax climbed to ₦37.5 billion from ₦21.6 billion. The bank also remains adequately capitalized, with a non-performing loan ratio of just 5.52%, signaling healthy asset quality. At its current valuation and given the strong earnings momentum, Sterling Bank offers attractive upside and is well-positioned in the banking space.
