Stock Market Review: June 7, 2023

The stock market on Tuesday closed on a positive note with 0.42% growth, bringing the All Share Index and Market Capitalization to 56,038.85 points and N30.513 trillion respectively.

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


The market on Tuesday bounced back with 0.42% growth. What is driving this growth?

The equity market rebounced after a day loss due to profit-taking, but immediately readjusted during yesterday’s trading to close on a positive note as a result of market resilient and investors confidence. This is due to the renewed hope and agenda of the new government targeted at revamping the economy and efforts to liberalise certain critical sector of the economy for optimal performance and economic activities.

Sequel to this, most stocks qouted on the NGX have remained positive and on the upward trend, thereby opening opportunities for market participation and continued repositioning by investors, leading to price movement currently experienced on the bourse.

BUA Cement has notified the investing public that it got a loan facility of $500 million from International Finance Corporation. Is this likely to improve their possibility of paying better dividend?

The loan facility will potentially provide BUA Cement with additional funds to invest in growth opportunities and towards its expansion plan. Certainly, it will assist in financing capital expenditures, which will positively impact the bottom line of the company. This will contribute to future profitability and further enhance its dividend payments outlook to the shareholders.

What is driving the growth in Etranzact and C&I Leasing?

The growth witnessed in Etranzact is due to recent market activities and low prices coupled with increased demand for its products service.

For C&I Leasing, it is linked to market activities, when compared to the last price of its share reconstruction, backdrop of its 52-week low at N3.15 per share.

Is Eterna Oil a good buy at N11.15?

The price of Eterna Oil has attained a price growth of 45% on an entry price at N7. For me, it is advisable for investors to trade with little caution because any time soon, it will begin to oscillate. But, for investors with positive sentiment who are willing to take chances, the possibilities are still there.

What are the possibilities in Nigerian Breweries, FBNH, Zenith, UBA and Access and WAPCO?

All the mentioned stocks command good possession of the market with capital appreciation, knowing that they’re paying dividend stocks in their various sectors. So, for me, they’re admirable to possess in one’s portfolio due to their highly demand nature and liquidity.

Source: Stock Market Review: June 7, 2023 – StocksWatch (

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