“Thus, we expect market performance to remain mixed in the week ahead as investors rotate their portfolios towards stocks with attractive dividend yields amid intermittent profit-taking activities. Overall, we advise investors to take positions in only fundamentally justified stocks as the weak macro story remains a significant headwind for corporate earnings.”
Across the sectors last week, performance was bullish with the NGX Banking index recorded a weekly gain of 5.23 per cent. NGX Oil & Gas index rose by 5.08 per cent, while NGX Insurance index up by 3.08 per cent for the week. On the other side, Transnational Corporation led the decliners table by 30.96 per cent to close at N1.94, per share. McNichols followed with a loss of 17.72 per cent to close at 65 kobo, while Geregu Power declined by 10.00 per cent to close at N290.70 per share.
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