Stock Market Review: December 12, 2022


ruth ibikunle

Last week, the Nigerian stock market continued its upward journey with growth of 1.51%, week on week. So far this year, the market has returned 14.43% with the All Stocks Index and Market Capitalization at 48,881.93 points and N26.625 trillion respectively.

In a stock market review with Mallam Garba Kurfi, MD/CEO of APT Securities and Fund Limited, the following was discussed:


The stock market closed last week on a bullish note with growth of 1.51%, week over week. How sustainable is this uptrend?

The trend started in November and is expected to continue until the end of the year because many stocks are undervalued, especially blue chip ones, which are mostly held by institutional investors, such as PFA, Private Equity, who would like to straighten their purse.

What is the outlook for the new week?

The outlook for the coming week remains positive considering the big six are still down from their 52-week high.

What is driving BUA Cement, Ecobank and Guinness?

The rise of BUA CEMENT is due to their silence regarding their outstanding shares, it is not yet known if they are going to release or cancel.

Ecobank is due to its good performance and trade arbitrage on the Ghana and Cotd’vour exchanges, while Guinness is just a mere market interaction.

Why are Nigerian Breweries and Geregu Power trending down?

Nigerian Breweries is trading lower due to the bonus rebate it declared, one for every four retained. Geregu is the mother game of the market.

Are Nigerian Breweries a Good BUY at N38.5?

Nigerian Breweries is a good buy, below the 52-week low.

What are the possibilities at FBNH, Zentih, Wema Bank, GTCO, Flour Mills and Access Bank?

The actions mentioned belong to the banking sector. With the increase in the MPR and Treasury Billis, a good performance will be ensured at the end of the year and also a good positive outlook.

The flour mills close the year in March, so it can remain stable at the current price.

What are the actions to monitor?

The actions to observe are: NESTLE, ECOBANK, WAPCO, MTN, AIRTEL, TRANSCORP, among many others.


Please enter your comment!
Please enter your name here