Ruth Ibikunle
The stock market on Wednesday closed on a positive note with a marginal growth of 0.02%. Year to date, the market has returned 6.35% with the All Share Index and Market Capitalisation at 54,507.66 points and N29.689 trillion respectively.
In a stock market review with the MD/CEO of APT Securities and Funds Limited, Mallam Garba Kurfi, the following were discussed:
Excerpts:
Royal Exchange Plc has notified the Exchange of its proposed Rights Issue. How will this benefit existing shareholders in the Company?
Royal Exchange Plc is a company that’s more or less a family company where two family control over 60% and less than 20% are free plot for trading. If the family decides to take their Rights, there is no issues because the Right issues are already done. Generally additional capital for Insurance business is a welcome development. It’s has been for long without paying dividend probably the company may return to it.
What is driving the price of Linkage Assurance?
Market speculation trading is what’s moving the price of Linkage Assurance Plc up and down.
There seem to be profit taking in FCMB and Fidelity Bank. What is the good entry price for the two banking stocks?
Yes, traders must take their profit in FCMB and Fidelity Bank in view of the price appreciation in the month of January with gains of more than 25% company and 6% gained by ASI.
Infinity Trust Mortgage Bank recently released its Q4 2022 result with growth in its topline and bottom line figures. Are they likely to declare dividend?
Infinity Trust Mortgage Bank Plc improved in both Gross Income and PAT, It may pay dividend depending on the meeting of the regulatory requirements.
What are the stocks to watch?
The stocks to watch are WAPCO, MTN, AIRTEL AFRICA, Seplat, NAHCO, UBA, ACCESS, GTCO, ZENITH BANK