Nigeria’s monetary authorities’ decision to keep a hold on interest rates last week set the stage for sell-offs in some key sectors, triggering the first loss the market recorded in five weeks.
Oil & gas and bank stocks were on the receiving end of the retreat. That said, liquidity improved with the size of trade increasing by 50.9 per cent.
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Looking forward, market movement this week is likely to be shaped by profit-taking in a couple of stocks that appreciated recently and, to an extent, pending first-quarter corporate results.
PREMIUM TIMES has assembled some stocks with sound fundamentals, adopting rigorous approaches to save you the risk of picking equities at random for investment.
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The pick, a product of an analytical market watch, offers a guide to entering the market and taking strategic positions in hopes that selected stocks will record reasonable price appreciation with the passage of time.
This is not a buy, sell or hold recommendation but a stock investment guide. You may need to involve your financial advisor before taking investment decisions.
Japaul Gold
Japaul Gold tops this week’s list for trading significantly below its intrinsic value and close to its 52-week low. The price-to-earnings (PE) ratio of the company is 6.7x, while the price-to-book (PB) ratio is 1.5x. The relative strength index (RSI) is 50.
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Lasaco Assurance
Lasaco Assurance appears on the list for trading well below its underlying value. The insurer’s PE ratio is 6.7x, while the PB ratio is 1.2x. The RSI is 59.8.
Consolidated Hallmark
Consolidated Hallmark appears on the pick for currently trading below its book value. The PE ratio of the company is 8.7x, while the PB ratio is 0.9x. Its RSI is 51.
Sovereign Trust Insurance
Sovereign Trust makes the cut for trading fairly below its underlying and book value. The underwriter’s PE ratio is 4.4x, while the PB ratio is 0.8x. The RSI is 48.5.
READ ALSO: Nigerian stock market closes week with mixed performance
United Bank for Africa (UBA)
UBA makes the cut for trading below its intrinsic and book value. The lender’s PE ratio stands at 6.9x, while the PB ratio is 0.4x. The RSI is 46.
Fidelity Bank
Fidelity Bank appears on the pick for currently trading below its underlying value. The PE ratio of the bank is 2x, while the PB ratio is 1x. Its RSI is 43.
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