Stock Market Review: December 22, 2022

The Nigerian stock market on Wednesday closed on a positive note with 0.12% growth. Year to date, the market has returned 15.82% with the All Share Index and Market Capitalisation at 49,475.43 points and N26.948 trillion.

In a stock market review with Mr Gilbert Ayoola, a seasoned capital market expert, the following were discussed.

Excerpts:

• The stock market on Wednesday closed on a positive note with 0.12% growth. Is the market likely to close the week positive?

The market started the week on a promising note in view of investor’s optimistic sentiments majorly in some strong fundamental stocks, driving the stock market in the northward direction. This sentiments is equally shared across various segments of the market continuing till this mid-week, Wednesday closing the stock market on a positive note.

Though, the stock market activities have been a mixed reaction of both profit taking and readjustment of investors’ portfolio position towards the end of the year 2022, and in anticipation of Q4 release earnings for dividends declaration; and also possibly price surge for the new year as we are currently experiencing fund redirection coming from the money market due to inattentive interest rates.

• What is driving the price of University Press and Africa Prudential?

What is responsible for the price movement in University Press is purely market forces movement of some smart investor due to the low price of the stock vis-a-vis Q2 performance. And at the same time, when you looked at its current 52-week low of N1.36, and earning per share of 69kobo as compared to previous year of 57kobo.

On the other hand, the price of Africa Prudential is also due to investor positive participation and lookout of the company on the basis of 52-week low of N5 which look attractive and P.E ratio of N9.66

• How attractive is Champion Breweries at N4.30?

Apart the fact that it is a company fully owned and acquired by Nigerian Breweries. It is able to grow its Q3 by increasing its gross earnings to N9.5bn from N7.08bn compared to prevoius year 2021. In the same vein, it grew it PBT by N1.79bn and PAT by N1.26bn considerably.

It also grow its earning per share from 8.11k presently at 16.09k. When considering its performance, the stock looks attractive for a second thought and consideration at current price of N5.30.

• What are the possibilities in Learn Africa, FBNH, GTCO, Fidelity, UBA and UCAP?

Learn Africa in view of its Q2 earning reports, still look enterprisingly strong in line with its underlying fundamental metrics.

While FBNH, GTCO Fidelity, UBA are equally good in view of their nine months performance. Likewise commanding appreciable large sizable volume of the market shares in terms of demands and quality traded by investors.

UCAP also continue to appreciate and remains strong due to its strong fundamentals coupled with the diversify assets classes, prudent management and dynamic nature of the board.

• What are the stocks to watch?

Among the stocks to watch, investors should consider stocks like Zenith, ACCESSCORP, GTCO, MTN, WAPCO, Nigerian Breweries, Presco, Okomu, Total, Cornerstone, Conoil, Mansard and many others.

Source: Stock Market Review: December 22, 2022 – StocksWatch (stocksng.com)

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