Nigerian stocks are seemingly reclaiming the solid bullish drive that delivered steadily strong gains earlier this year, given the 2.4 per cent yield they posted last week, which mirrored their best outing in the past eight weeks since 10 July.
The sterling performance came amid positive market news, including Nigeria’s scheduled upgrade by FTSE Russell to frontier market status this month, the planned admission of 10 large-cap stocks to FTSE Russell’s Frontier Index Series in September, and the Q2 GDP report showing a 4.4 per cent year-on-year surge in economic expansion.
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The key catalyst for performance was a terrific 9.1 per cent upswing in oil and gas stocks, stoked by fresh investor interest in Seplat Energy.
That upward momentum is expected to persist this week as analysts and investors look for the publication of half-year results from some bank tickers.
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PREMIUM TIMES has assembled a portfolio of stocks with sound fundamentals, using rigorous approaches to reduce the risk of investing in equities at random.
The pick, a product of an analytical market watch, offers guidance on entering the market and taking strategic positions, with the expectation that selected stocks will record reasonable price appreciation over time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before making investment decisions.
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Stanbic IBTC Holdings
Stanbic IBTC tops this week’s pick based on its robust fundamentals. The banking group’s net profit ratio (NPR) is 34.5 per cent, while the price-to-earnings (PE) ratio is 6.3x. Its 14-day relative strength index (RSI) is 37.7.
Mutual Benefits Assurance
Mutual Benefits is selected due to its strong fundamentals and its trading near its 52-week low, offering a good entry point for potential investors. The insurer’s NPR is 11.3 per cent, while the PE ratio is 4.7x. Its 14-day RSI is 47.4.
READ ALSO: FTSE Russell admits Dangote Cement, FirstHoldCo, MTN Nigeria, others to Frontier Index Series
Aradel Holdings
Aradel appears on the pick based on its robust fundamentals. The energy company’s NPR is 28.4 per cent, while its PE ratio is 8.2x. The 14-day RSI is 52.8.
Access Holdings
Access Holdings is selected for its strong fundamentals and trading below its intrinsic value. The banking corporation’s NPR is 14.1 per cent, while its PE ratio is 2.2x. Its 14-day RSI is 59.7.
Nigerian Aviation Handling Company (NAHCO)
NAHCO makes the cut on the strength of its promising fundamentals. The company’s PE ratio is 15.6x, while the 14-day RSI is 14.4.
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