Stock Recommendation for this week (April 3)

By Modupe Gbadeyanka

Last week, the Nigerian Stock Exchange (NSE) finished in the green zone, closing 0.08 percent higher despite closing weak for three consecutive days in the four-day trading week.

All other indices finished lower during the week with the exception of the NSE Premium, NSE Consumer Goods, NSE Lotus II and NSE Pension Indices that appreciated by 1.15%, 1.73% 1.58% and 0.34% respectively.

During the week, the Financial Services Industry (measured by volume) led the activity chart with 1.024 billion shares valued at N10.946 billion traded in 11,019 deals; thus contributing 66.44% and 65.75 % to the total equity turnover volume and value respectively.

It was followed by the Consumer Goods Industry, which recorded 213.704 million shares worth N3.053 billion sold in 2,693 deals.

Today, the Central Bank of Nigeria (MPC) begins its first Monetary Policy Committee (MPC) meeting today in Abuja and outcome of deliberations and decisions made would be made known tomorrow.

Key rates are expected to be retained and then possibly lowered at the next meeting.

With that in mind, analysts at Vetiva Research have released their recommendations for this week, April 3 and are presented below.