Stock Market Review: December 30, 2022

Ruth Ibikunle

The Nigerian stock market on Thursday closed on a positive note with 0.73% growth.

Year to date, the market has returned 17.75% with the All Share Index and Market Capitalisation at 50,300 points and N27.397 trillion respectively.

In a stock market review with Mallam Garba Kurfi, the MD/CEO of APT Securities and Funds Limited, the following were discussed.


The stock market on Thursday closed on a bullish note with 0.73% growth. What should we expect on Friday, being the last trading day for the year?

I expect the market to close positively, you will observe that some stocks traded high yet closed low such as GTCO amongst others. I still expect good response from the highly capitalized stocks, Airtel, NESTLE, Seplat, GTCO, WAPCO, among others should close high.

What is driving the price of Nestle and Geregu?

The driving forces for NESTLE is low price while Geregu is forces of demand.

How attractive is VITAFOAM at N20.65?

With a dividend of N1.52 and a marginal increase of 2 kobo, only that it failed below the expectation. It might likely trade low, however the closure of the registrar coming early in February may sustain the price which is about 7.8% dividend yield.

Why is FBNH trending down? Is it a good BUY at N11.05?

The profit takers are trying to sell FBNH now, which is forcing the price to come low. Long term Investors can hold but for short term trade take your profit and exit.

Is Fidelity Bank a good BUY at N4.56?

Fidelity look good to buy for both long and medium term.

What are the stocks to watch?

The stocks to watch are Flourmill, BUA FOODS, GTCO, NESTLE, Fidson, GLAXOSMITH, TRANSCORP, PZ among others.

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