Ruth Ibikunle
The Nigerian Stock Market last week closed on a bullish note with 1.46% growth. Year to date, the stock market has returned 2.75% with the All Share Index and Market Capitalisation at 105,752.61 points and N66.465 trillion respectively.
In a stock market review with the MD/CEO of APT Securities and Funds Limited who is also an Executive Commissioner, Securities and Exchange Commission (SEC), Mallam Garba Kurfi, the following were discussed:
Excerpts:
The stock market last week closed on a positive note with 1.46% growth. What is the outlook for the new week?
The stocks outlook is positive in view of the supprised result for Q1 2025, especially the Manufacturing Sector, they declared fantastic results, WAPCO in particular with an interim dividend of #4, the highest ever declared by the company.
UBA was the first to declare among the Banks, more are expected to come before the end of the month. Generally manufacturing companies seems to have overcome the devaluation of naira and the high cost of fuel, now we expect more positive results.
What is driving the growth in International Breweries, NASCON, Africa Prudential and Vitafoam?
The result declared by Nigerian Breweries, NASCON raised Investors confidence and it pushed their prices higher, we expect the upsurge to continue till the end of the month of April.
How attractive is VFD Group at N17.10?
VFD is very attractive in view of the bonus declared, five for every one with the exception of Aradel which split into twenty for every one. No other company declared what VFD has done in the last fifteen years.
Is Legend Internet a good buy at N6.82?
Legend Internet is a good buy at the current price, it’s the lowest in the Telecommunications Industries.
What are the stocks to watch?
The stocks to watch are Dangote Sugar, MTN Nigeria, Aradel, TRANSCORP, WAPCO, amongst others.