Ruth Ibikunle
The Nigerian stock market last week closed on a positive note with 1.97% growth. Year to date, the market has returned returned 39.65% with the All Share Index and Market Capitalisation at 104,421.23 points and N57.158 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:
The stock market last week closed on a positive note with 1.97% growth amidst profit taking. What is the outlook for the new week?
The Outlook for the Capital market look positive for the week as the coming year end result seem to meet the expectations of the market.
How would you rate the performance of the Q4 2023 results released so far?
The performance of Q4 result in most of the companies declared so far, meet up with the market expectations especially Unilever, TRANSCORP, FBNH among others.
Now that Otedola is the Chairman of FBN Holdings, should we buy more FBNH?
Yes you can buy as the Chairman is well known to the market and a good friend to NGX.
What is driving the growth in cornerstone Insurance? Is it a good buy at N1.9?
The driving force of Cornerstone Insurance is the expectation that the year end result is likely to be good. In view of the performance of Insurance sector I will advise to hold.
How attractive is Transcorp at N15.40?
TRANSCORP is still attractive in view if its potential in Power and crude oil field it acquired.
What are the stocks to watch?
The stocks to watch are: Oando, Dangote Sugar, NASCON, Mansard, Access among others