Nigerian stocks rose 3.9 per cent last week, marking the fourth consecutive gain as investor sentiment remained bullish across sectors. The Industrial Goods industry led the gains, with all indexes recording appreciation. Analysts at Meristem Securities attributed the positive momentum to dividend-related activities, particularly in the banking sector, where dividend declarations and qualification dates are driving demand. Continued interest in the oil & gas sector is also expected, especially in Aradel, due to positive sentiment and anticipated dividends. This week, market direction may be influenced by first-quarter earnings results and Nigeria's reinstatement to the FTSE Russell Frontier Market Index, which could boost foreign investor attention. Africa Prudential is highlighted for its 37.8 per cent net profit ratio and a price-to-earnings (PE) ratio of 17.1x, with a relative strength index (RSI) of 42. BUA Cement is noted for a 49.7 per cent net profit ratio, a PE ratio of 31.9x, and an RSI of 85.7. Mutual Benefits Assurance is included due to its 22.2 per cent net profit ratio, a low PE ratio of 4.2x, and an RSI of 43, trading below intrinsic value. United Capital, with a PE ratio of 10.2 and RSI of 29.4, and C and I Leasing, with a 5.4 per cent net profit ratio, PE ratio of 6.9x, and RSI of 29, also made the list for strong or undervalued fundamentals. The selection is based on analytical market watch and is intended as a guide, not a recommendation. Investors are advised to consult financial advisors before making decisions.
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