Ruth Ibikunle
The Nigerian stock market on Thursday closed bullish as the All Share Index was up by 1.55% to close at 65,263.06 points from the previous close of 64,267.36 points.
In a stock market review with Mallam Garba Kurfi, MD/CEO of APT Securities and Funds Limited, the following were discussed:
Excerpts:
The market on Thursday closed on a bullish note with 1.54% growth. What is driving this current vibration?
The market bounced back from five days loss as a result of profit taking by some while others saw opportunities to take position. The Q2 result also gave confidence to some other stocks that their prices are rising, this made the ASI to gain 1.54%. This will likely continue as we wait for the Q2 result of Financial Institutions.
What is driving the growth in Sterling, Nigerian Breweries and PZ?
Sterling Bank, NB, PZ among others are rising due to their Q2 and Year end result performance for PZ.
How attractive is Fidelity Bank at N8.1?
Fidelity Bank performance justify its price of #8.17 and is still within the fair prices.
Why is Fidson trending down? How attractive is it at N14?
The price of Fidson is still attractive in view of the exit of GLAXOSMITHK which leave it as the leader in the Healthcare sector.
What are the stocks to watch?
The stocks to watch are Japaul, Dangote Sugar, NASCON, Sterling, TRANSCORP, Access,UBA, FLOURMILL among others.