Nigerian stocks slid by 1.2 per cent last week as a higher sell pressure weakened the market value of shares. The market has yielded 28.4 per cent since the year started, with the oil & gas index leading other sector indices, having returned 64.4 per cent so far.
The half-year earnings reports of four of Nigeria’s biggest lenders – Access Holdings, United Bank for Africa, Zenith Bank and Guaranty Trust Holding Company – are currently awaited by investors, and they are likely to shape the direction the market is headed in the short term when they are released.
A number of equities continue to offer value for money, some now lowly priced to a level that offers a strong entry point for different investors seeking stocks with the promise of price appreciation.
