The stock market has been witnessing a slow running for a while as most stocks has been inactive but we are drawing into the bull era again, we can see how stocks are doing only few days into this month, Investment and allied assurance which private placement was sold last March was listed in the stock market on Friday for N1.30K and most people were not happy with the price but within 4 days the price gained with about 20kobo and there are still prospects for this company, I went to my stockbroker yesterday to seek for more units but I would told that there are no more for sale as everyone is holding back to what they have. Also I was looking on the current price of share on the online site and I found out that Bagco bag that was sold in IPO last year, now sells for N8……what a gain…I wish I bought!
Lets look into the printing and publishing sector, and airline sector.
AIRSERVICE has for long no experienced activity in the sector as the price has remained stagnant at N19.20 but its all time high is N20 and there is still room for improvement, only 43 deals took place here, NAHCo is doing well at N26 and with about 120 deals and over 823,000 units traded, its highest price is put at N27.80 which makes it an investors hope if large volumes are traded.
The publishing sector has been dormant for a long time as only small units have been traded in this sector, let us look at University press which is currently selling for N12 and its all time high is N12.50, it would take a long term investor to buy into this, Longman press also has a slow movement as it currently sells for N24.94k and has its highest margin at N26 and just 57,354 units sold. Academy press sells for N11.76 and its highest price is N12 but there are still prospects if you intend long term investment.
Disregard what these sectors are doing now as this month of may would witness a bullish effect and people who want to sell would soon make it, private placements would take place this month. Also watch out for Unilever, Eterna oil and Nahco this month as they would do well. There is money in the air due to the budget approval and its passing into law and the accompanying disbursement of funds to government agencies for implementation of projects; expect contractors, exporters and importers to have access to more funds which would find their way into the stock market.
Stay in touch.