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Stock Watch: Recommendation for this Week (October 3)

By Meristem Research

Given the MPC’s decision to maintain all policy variables (MPR: 14.00%, CRR: 25.00%, Liquidity Ratio: 30.00%, and Asymmetric Corridor: +200/-500bps), it is expected that the renewed investor confidence witnessed in the market will be sustained in the near term.

In the coming week, we envisage buy pressures on large cap stocks which shed some value last week, especially in the consumer goods sector, to drive market performance.

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Investors are also expected to take positions in stocks with strong fundamentals as we await the commencement of the third quarter earnings season.

We therefore expect the market to close positive for the week, albeit marginally.

 

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Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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