Last week, the Nigerian stock market witnessed one of its sharpest declines so far this year, depreciating by 3.6 per cent as sell-offs in bank stocks hammered the benchmark equity index. That was not unexpected, as analysts have recently projected stocks to experience price correction, having stayed in the uptrend territory for quite a while.
“Investors are likely to continue to take advantage of recent price corrections to accumulate fundamentally sound stocks, particularly counters with strong earnings prospects and attractive valuations,” analysts at Meristem Securities said in their outlook for the week.
Looking forward, increased positioning in stocks that pay dividends half-yearly is likely to be seen as the market approaches the end of the second quarter.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
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