Stock Market Review: December 15, 2022

The stock market on Wednesday readmitted the bulls as it closed higher by 0.28%. Year to date, the market has returned 14.68% with the All Share Index and Market Capitalisation at 48,988.04 points and N26.682 trillion respectively.

In a stock market review with Mr Gilbert Ayoola, the following were discussed:

Excerpts:

The stock market on Wednesday closed on a positive note with 0.28% growth. What could be responsible for the bounce back?

The equity market have continued to show resistance through investors’ participation and confidence paving way for the bullish movement, closing the market on a positive note. This is due to investor’s renewed interest in some strong fundamental stocks as a result of their cheap low prices.

What is driving the price of Learn Africa and BUA Cement?

Learn Africa last performance of the company have impressive turning out good numbers in its reports while growing its revenue and at the same time PBT and PAT respectively couple to the fact that, when compared to its current price at N1.97 to its 52-week high of N2.66 is still relatively low.

For BUA Cement, its Q3 results have remained attractive catapulting the company position to a new high at time record now. When compared on a year-on-year basis to its previous year and looking at its current book value.

Investors are therefore consolidating this result, showing renewed interest in the company based on its performance thereby pushing up the price on investor’s positive sentiment from a price of N95 to N97.75.

Why is Prestige Assurance trending down?

What is currently witnessed in the price activity of Prestige Assurance has been due to sell pressure from bargain hunters turning out a relatively large volume above the market recommendation of 100,000 units to effect price change within a single daily trade transaction thereby forcing/pushing down the price to what it is currently.

What are the possibilities in Access, GTCO, FBNH and Transcorp?

Access Bank, GTCO, FBNH are all banking stocks, of which if considering their nine months performance results, they’re very good stock for any investor position to invest in.

Likewise, Transcorp have continued to grow its revenue baseline and earnings therefore making it equally good for investor’s portfolio to hold in view of the current dividend yield of N1.75

What are the stocks to watch?

In my usual suggestions and recommendation, investors still continue to position in stocks with sound fundamentals and also strong earnings like Zenith Bank, GTCO, BUA Foods, Flourmills, Dangote Cement, Nestle, NAHCO and more.

Source: Stock Market Review: December 15, 2022 – StocksWatch (stocksng.com)

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