By Modupe Gbadeyanka
Last week, selloffs on stocks across the banking and industrial goods sectors lowered the domestic stock market marginally by 0.09 percent, stretching the year-to-date loss to 11.95 percent.
This bearish sentiment in the market occurred despite the gains posted by some large cap stocks, though the market breadth finished negative at 0.54x with 22 price gainers versus 41 price losers.
This week, things are expected to change as companies prepare for the release of their third quarter earnings from the middle of next month, which is just less than 12 hours away.
Business Post reports that the market will open for trading for only four days this week as a result of a public holiday on Tuesday in commemoration of Nigeria’s 59th Independence Day celebration.
Analysts at Meristem Research have penned down three stocks in the financial services sectors investors should be interested in. These equities are anticipated to fetch their holders cool returns at the end of the year if considered worthy to be in their portfolios.
The first in the bucket is Access Bank, which is anticipated to yield 31.11 percent if acquired at N7.65k per share because it could rise to N10.03k per unit later in the year.
Also, on the list is Custodian Investment, which is projected to make an expected return of 14.17 percent if bought at its last closing price of N6 because if could later sell for N6.85k per share.
Last on the chart is GTBank, which those at the investment firm said if purchased at N27.60k, its previous closing value, could yield 26.99 percent to trade at N35.05k per unit.
Other stocks to buy, sell and hold were recommended by Meristem Research and can be view below.
https://businesspost.ng/wp-content/uploads/2019/09/STOCK-RECOMMENDATION-30th-September-2019.pdf
Adedapo Adesanya