By Modupe Gbadeyanka
Last week, the year-to-date loss of the Nigerian Stock Exchange (NSE) reduced to 11.62 percent after the market expanded by 1.28 percent on Friday.
The stock market has not been strong this year as a result of events in the domestic and international spaces, including the 2019 general elections in Nigeria, late announcement of cabinet by President Muhammadu Buhari, declining oil prices, trade spat between the United States and China amongst others.
But despite all these, some stocks have been projected to perform well this year at the market and analysts at Meristem Research have pinned five shares investors can focus on this week and possibly add to their portfolios.
One of the stocks is NEM Insurance, which is projected to yield 63.71 percent for its holders as it could rise to N2.91k per share from N1.78k it closed last week.
Another equity on the radar is Dangote Cement, which is tipped to hit N217.27k from its present level of N155.40k, giving a return of 39.81 percent.
Also, on the list is Access Bank, which is anticipated to yield 38.41 percent after reaching a target price of N10.03k from N7.25k it settled last week.
Seplat, another stock on the watchlist, is being tipped to rake 27.32 percent for its holders to hit N585.65k from N460.00 per share, while GTBank is projected to return 27.22 percent after reaching N35.05k from its present share price of N27.55k.
Other stocks recommended for the week by the company can be viewed in the below attachement:
more recommended stories
Naira Weakens Against Euro, Sterling at Parallel Market Friday
By Adedapo Adesanyan The Naira closed.
NASD OTC Closes Week With Key Parameters in Red
By Adedapo Adesanya The final trading.
Oil Prices Fall After Earlier Rise Friday on Economic Slowdown in China
By Adedapo Adesanya Oil prices dropped.
CBN Injects $325.5m into Retail Market SMIS
By Adedapo Adesanya The Central Bank.
Edo Vows to Flush Out Thugs to Attract Investors
Governor Godwin Obaseki of Edo State.
Nigeria’s Revenue to GDP Ratio Hits 8%, Targets 15% 2023
By Dipo Olowookere Minister of Finance,.
LCFE Picks Ecobank for Seamless Trade Settlement Across Africa
In order to enable the seamless.
Disappointing Chinese Data Weakens Asia Markets
By Investors Hub Asian stocks ended.