Unlike the penultimate week when Nigerian stocks, in the middle of a more active market, generally depreciated, trade was relatively muted last week, and the main equity index advanced this time around, adding 0.5 per cent.
Nigerian stocks continue to hold on to the resilience they have earned for themselves among their frontier market peers in recent years to attract the big local interest needed to compensate for the mass departure of foreign investors and drive gains.
This year alone, stocks have returned 30.7 per cent to date when the expectation is that the reasonably attractive yields on fixed-income securities will do so much in turning the flow of investors’ capital away from stocks.
