Nigerian stocks shed 1 per cent last week, following sell-offs in industrial goods and bank stocks.
“We anticipate a shift in investor sentiment towards the fixed income market, driven by high yields, as the Monetary Policy Committee’s hawkish stance tightens system liquidity and slows equities market activities,” analysts at Meristem Securities had earlier predicted.
Equities have added 30.4 per cent this year, and a number of low-priced stocks with prospects of appreciation are available in the market.
