Stock Market Review: February 6, 2023

Ruth Ibikunle

The market last week closed on a positive note with 2.95% growth. Year to date, the market has returned 5.78% with the All Share Index and Market Capitalization at 54,213.09 points and N29.528 trillion respectively

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


The stock market last week closed on a positive note with 2.95% growth. Should we expect more of this in the coming week?

The growth of ASI is likely to be sustained in view of more year end Audited Financial Results that are coming with corporate actions.

Geregu grew by 38.88% last week to close at N219. Is this growth sustainable? Is Geregu a good BUY at the current price?

Geregu Power is moved by the forces of demand. As long as the demand forces continues, most probably, the price will rise. It’s the first Power company listed, there has been increase in the price of power and demand of the electricity that may be the forces of demand.

How attractive is FCMB at N4.9?

FCMB rising price is due to good performance with over 50% increase by both Gross Income, PBT and PAT. Also the rise of Fidelity Bank pushed its price up.

Is Fidelity Bank a good BUY at N6?

For the long term, Fidelity Bank is a good buy.

Why is Guinness trending down?

Guinness trending down price is due to poor performance, especially PBT & PAT declined by more than 50%.

Flour Mills recently in its Q3 result. How is it likely to affect its share price?

The Company shows moderate improvement in both Turnover, PBT and PAT which is ok, the market will respond to the performance, it’s only a matter of time.

What are the stocks to watch?

The stocks to watch are NAHCO, WAPCO, MTNN, ZENITH, GTCO, SEPLAT,  among others.

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