Stock Market Review: December 20, 2022

The stock market on Monday open the week on a positive note with 0.20% growth. Year to date, the market has returned 15.68% with the All Share Index and Market Capitalisation at 49,414.96 points and N26.915 trillion respectively.
In a stock market review with Mallam Garba Kurfi, MD/CEO of APT Securities and Funds Limited, the following were discussed:

Excerpts:

The market on Monday closed on a positive note with 0.20% growth. Should we expect more positive vibrations this week?

The market is expected to continue with positive trend for the rest of the week as the end of the month and year is fast approaching. Most of the Private Equity Investors, Institutional Investors and PFAs are trying to rebalance their portfolio, this will trigger some purchases that may push prices of blue chips stocks to go up.

What is driving the price of International Breweries, Fidson and BUA Cement?

The driving force of International Breweries will be lower price of the stocks, while Fidson is good performance pushing the price up. The rise in BUACEMENT has to do with the expectation that they may issue bonus with the outstanding shares yet to be canceled by the company, they may choose to issues bonus or cancel.

Why is PZ trending down?

The price of PZ is coming down due to profit taking but will rise back because it’s yet to mark down for the Dividend declared for the year 2022.

How attractive is Vitafoam at N21?

Vitaform is very attractive in view of their current performance and may likely declare their results before end of the year in December. In anticipation of the result, it is a good buy now.

What are the possibilities in FBNH, Zenith, UBA, GTCO and Access Bank?

The Banking shares ; FBNH, ZENITH, UBA, GTCO and Access Bank is good buy especially because of the currency change and cash less economy which are the greatest benefits that will attract more buyers into Banking stocks because more benefits will be accrued to the Banks, this means that better profit will be declared.

According to the National Bureau of Statistics, Nigeria’s inflation rate has risen to 21.47%. How will this impact the capital market?

The inflation rising to 21.47% is taking us to 2005 when inflation was higher than that, it’s really challenging the ASI performance for the year which is less than the inflation but before the end of the year it may reduce the differences but still stand to hedge against inflation which will attract more investors.

What are the stocks to watch?


The stocks to watch are Fidson, GLAXOSMITH, GTCO, ZENITH BANK, WAPCO, MTN and VITAFOAM.

Source: Stock Market Review: December 20, 2022 – StocksWatch (stocksng.com)

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