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In spite of the bearish trading, some stocks have exceeded their highest prices in 12 month into the year, while a larger number are heading to this mark. A study by Afrinvest West Africa shows that already most of the stocks have far exceeded their lowest prices for one year, suggesting that these stocks have the capacity for price rally and attainment of new heights in coming months.
According to Afrinvest study of the market for two weeks, February 29, to March 14, 2008, Ecobank Transnational Incorporated, Cappa and Dalberto, Costain West Africa, CAP, Seven Up, Unilever, African Petroleum, Eterna Oil, Staco Insurance have already hit 100 percent of their one high.At the verge of achieving the same mark are GTBank 91 percent; Intercontinental Bank 98 percent; Access Bank 97 percent ; Skye Bank 95 percent, UAC Property 97 percent; Julius Berger 94 percent; May and Baker 6728 percent; Neimeth International; Chevron, 97 percent. Others are WAPIC Insurance 93 percent; R.T Briscoe 93 percent ; Union Homes 83 percent, Japaul Oil 99 percent and Vita Foam 93 percent.
Those that have exceeded their one year lowest price are Cappa and D’Alberto, by 1101 percent; Costain 2212 percent, May and Baker 6726 percent; Berger Paints, 445 percent; UTC 357 percent; African Petroleum 528 percent; Eterna Oil 461 percent; Oado 356 percent.
Analysts say if the various quarterly results of companies are good, prices would rally. Results already turned in by most companies appear impressive as earnings are on the rise. Also expected to drive stock prices is the rising liquidity in the economy occasioned by increase in money supply, draw- down from budget expenditure provisions and the influx of foreign capital.
The study by Afrinvest revealed that in spite of the general price fall, some companies during the two week’s period still recorded increases in prices. These are Costain which appreciated 62.77 percent; AG Leventis 32.02 percent.
Meanwhile , an investment analysts, Awoyemi Olufemi, managing director of Proshare Limited has given tips on how to select most viable stocks.
Speaking with BusinessDay in Lagos, Awoyemi, stated that what should be of basic importance to an investor is the sectoral performance of the market. According to him, the performance trend of sector will determine how an investment in a particular stock in that particular sector would perform overtime.
The financial analyst spoke during a workshop organized on stock investment in Lagos by Proshare Limited.
According to Afrinvest study of the market for two weeks, February 29, to March 14, 2008, Ecobank Transnational Incorporated, Cappa and Dalberto, Costain West Africa, CAP, Seven Up, Unilever, African Petroleum, Eterna Oil, Staco Insurance have already hit 100 percent of their one high.At the verge of achieving the same mark are GTBank 91 percent; Intercontinental Bank 98 percent; Access Bank 97 percent ; Skye Bank 95 percent, UAC Property 97 percent; Julius Berger 94 percent; May and Baker 6728 percent; Neimeth International; Chevron, 97 percent. Others are WAPIC Insurance 93 percent; R.T Briscoe 93 percent ; Union Homes 83 percent, Japaul Oil 99 percent and Vita Foam 93 percent.
Those that have exceeded their one year lowest price are Cappa and D’Alberto, by 1101 percent; Costain 2212 percent, May and Baker 6726 percent; Berger Paints, 445 percent; UTC 357 percent; African Petroleum 528 percent; Eterna Oil 461 percent; Oado 356 percent.
Analysts say if the various quarterly results of companies are good, prices would rally. Results already turned in by most companies appear impressive as earnings are on the rise. Also expected to drive stock prices is the rising liquidity in the economy occasioned by increase in money supply, draw- down from budget expenditure provisions and the influx of foreign capital.
The study by Afrinvest revealed that in spite of the general price fall, some companies during the two week’s period still recorded increases in prices. These are Costain which appreciated 62.77 percent; AG Leventis 32.02 percent.
Meanwhile , an investment analysts, Awoyemi Olufemi, managing director of Proshare Limited has given tips on how to select most viable stocks.
Speaking with BusinessDay in Lagos, Awoyemi, stated that what should be of basic importance to an investor is the sectoral performance of the market. According to him, the performance trend of sector will determine how an investment in a particular stock in that particular sector would perform overtime.
The financial analyst spoke during a workshop organized on stock investment in Lagos by Proshare Limited.
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