Top Stock Picks for Nigeria This Week

Nigerian stocks dropped by 0.8 percent last week. This happened even with several strong half-year results coming out, as profit-taking affected trading. Sell-offs in consumer goods stocks caused this decline.

This week, we expect more corporate results, especially from big banks. These results could influence the market's direction soon.

This week, we might see more interest in stocks that pay dividends at least twice a year. Investors are waiting for half-year corporate results to come out.

PREMIUM TIMES has put together some stocks with good fundamentals. We used careful methods to help you avoid randomly picking stocks for investment.

These picks come from a close market watch. They can guide you on how to enter the market and make smart choices. We believe that the selected stocks will likely see price increases over time.

This is not a recommendation to buy, sell, or hold. It is a guide for stock investment. You should talk to your financial advisor before making any investment decisions.

HBM Nigeria

HBM Nigeria is at the top of this week’s list due to its strong fundamentals. The net profit ratio (NPR) of this cement manufacturer is 9.6. Its price-to-earnings (PE) ratio is 18.1x. The 10-day relative strength index (RSI) is 58.7.

United Capital

United Capital is on the list because of its attractive fundamentals. The NPR for this company is 51.2, and its PE ratio is 10.1x.

Wema Bank

Wema Bank is included for its strong fundamentals and because it is trading below its real value. The lender’s NPR is 30.5, and its PE ratio is 1.1x. The RSI is 40.9.