Nigerian stocks fell 0.2 percent last week following profit-taking activities in industrial goods stocks.
The main stock index has returned more than 30 percent since the beginning of the year, and oil and gas stocks led other sectors, with gains of as much as 133.1 percent.
“Given the high interest rates in the fixed income and money markets, we expect a bearish undercurrent to persist in the equity market as fixed income-biased investors take advantage of high yields in the fixed income space,” they said. analysts at investment bank United Capital. had predicted earlier in the week.
“Fund managers and companies can start looking at medium-term (≥6 months) investment objectives, selecting only strong stocks with strong fundamentals and ongoing corporate actions,” they added.
PREMIUM TIMES has rounded up some stocks with fundamentals and other potential, taking key analytical approaches to save you the hassle of picking random stocks to invest in.
The selection, the product of analytical observation of the market, offers a guide for entering the market and taking strategic positions in the hope that the shares will increase in value over time.
This is not a buy, sell or hold recommendation, but rather a stock investment guide. You may need to involve your financial advisor before making investment decisions.
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NPF Microfinance Bank
NPF Microfinance Bank tops this week's selection for trading well below its intrinsic value. The microlender's price-to-book (PB) ratio is currently 0.7x, while its price-to-earnings (PE) is 10.4x. Its Relative Strength Index (RSI) is 37.8.
AIICO Insurance
AIICO makes the cut for currently trading below its intrinsic value. The insurer's PB ratio is currently 0.7x, while the PE ratio is 2.5x. Its RSI is 52.6.
Veritas Capital Assurance
Veritas Kapital made this week's list for trading well below its intrinsic value, making it a potentially solid investment for value investors. The insurer's PB ratio is 1x, while its PE ratio is 2.2x. Its RSI is 43.4.
ALSO READ: NEM Insurance, FBN Holdings and NPF Microfinance Bank are top stock picks this week
NASCON
NASCON chooses this week to trade significantly below its intrinsic value. The manufacturer's PB ratio is 2.2x, while its PE ratio is 6.9x. Its RSI is 27.9.
fidson
Fidson makes this week's list for currently trading below its intrinsic value. The drugmaker's PB ratio is 0.3x, while the PE ratio is 9.6x. Its RSI is 29.5.
Custodian Investment
Custodian Investment appears in the selection because it is currently trading well below its innate value.
The company's PB ratio is 0.6x right now, while the PE ratio is 1.3x. Its RSI is 36.1.