Grapevine

Fidelity Bank, UBA, Prestige Assurance top stocks pick this week

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.

Two stocks announced their strongest interim dividend ever on record during the week, and so have a place in the pick week also because they have fundamentals that make them potential good buys.

PREMIUM TIMES has assembled some stocks with fundamentals and other potential, adopting key analytical approaches to save you the hassle of randomly picking equities for investment.