Nigerian Stocks Surge 7% Weekly, Index Up 25.3% This Year
Nigerian stocks achieved their biggest weekly gain this year, rising 7% driven by industrial goods demand. The benchmark index has delivered 25.3% returns in under two months, with analysts predicting further gains from earnings season and dividend announcements. Investment bank Meristem Securities notes institutional participation may increase following revised equity allocation limits for pension funds. PREMIUM TIMES identifies United Capital, Fidelity Bank, Cornerstone Insurance, Africa Prudential, and Unilever as stocks with strong fundamentals, offering strategic investment guidance rather than recommendations. United Capital shows a 51.6% net profit ratio and 11.8x P/E ratio. Fidelity Bank trades below intrinsic value with 19.1% NPR and 3.8x P/E. Cornerstone Insurance has 14% NPR and 13.5x P/E. Africa Prudential shows 36.5% NPR and 2.4x P/E. Unilever has 11% NPR and 16.8x P/E. Investors should consult financial advisors before decisions.