Ruth Ibikunle
The Nigerian stock market on Monday closed on a positive note with 1.30%. Year to date, the market has returned 28.08% with the All Share Index and the Market Capitalisation at 95,768.12 points and N52.408 trillion.
In a stock market review with the MD/CEO of APT Securities & Funds Limited, Mallam Garba Kurfi, the following were discussed:
Excerpts:
The stock market last week grew significantly by 13.84%. It continued its upward journey on Monday with 1.30% growth. How sustainable is this growth?
The stock market is likely to sustain the momentum as long as the major capitalisation stocks keep gaining such as Dangote Cement, MTNN AIRTELAFRI, BUA Cement & BUA Foods.
The sustainability could only be assured by the time companies declares 12 months unaudited result. Hopefully the result will meet the expectations of the market otherwise its will fall down.
What is driving the growth in Dangote Cement.? Is it a good buy at N592.6?
Dangote cement moved upward because of the participation of one of the major player of NGX who decided to take a good portion of the shares.
For a short term no but for long term Investors can still buy at the currently price of N593.62.
How attractive is Eterna Plc at N25.20?
ETERNA Oil is attractive for both short term and long term trading. However Oando is a better alternative to it.
Unilever published an impressive Q4 2023 results with growth in topline and bottom line figures. PAT increased by 91.26%. Is Unilever a good buy at N21.70?
Unilever seem to be on its way to recovery, it’s a good buy at N21.70.
Is Honeywell a good buy at N6.08?
Honeywell Flour is move by mere speculation which may not sustain the momentum.
What are the stocks to watch?
The stock to watch are Dangote Sugar, NASCON, Japaul, TRANSCORP, Access, Veritaskap, Universal Insurance, AIICO, Mansard, among others.