Ruth Ibikunle
The Nigerian stock market last week closed on a positive note, returning 0.12% , week on week. The All Share Index and Market Capitalisation stands at 52,465.31 points and N28.568 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 market last week closed on a positive note with 0.12% growth. What is the outlook for the new week?
The Outlook for the new week is expected to be positive as the Q1 2023 results keep coming with positive surprises.
Academy Press, Wema Bank, Ardova and Access Holdings significantly grew their share prices last week. How attractive are these stocks?
Academy Press, Wema Bank and Access Bank the prices keep rising because of the performance of Q1 2023 while Access also has to do with generous dividend declared for final dividend of N1.30 plus interim dividend of 20 kobo making a total dividend of N1.50.
Ardova has to do with the issues of delisting, they declared offer price of N17.00 but probably decided to adjust the offer and the market is responding to it. It’s still attractive in view of the EPS and Q1 result.
Transcorp eventually closed the week at N1.94. How low is the price likely to get to?
Transcorp closed N1.94 but may likely rise in the course of the new week, It may not come below N1.50.
How attractive is Vitafoam at N18.5?
Vitafoam at N18.50 may stabilise within that price for now before it moves up.
What are the stocks to watch?
The stocks to watch are Access, UBA, Transcorp, Mansard, NAHCO, BUA Foods, Flourmill, Honeywell and Oando.