As Nigeria begins easing the lockdown in its major cities ( Lagos and Abuja), its equities market will continue to see fundamentally sound stocks enjoy investors patronage.
Stocks like MTNN, Zenith Bank, GTBank, Nestle, Access Bank, UBA, Dangote Sugar, among others have seen increased buy sentiment lately, against sell positions taken on the likes of Seplat Petroleum due to record crude oil price decline.
The equities market appreciated 1.9percent on 4-day trading week to close the month of April, rebounding 8.1 percent month on month after tumbling by 20.9percent in March. Accordingly, year to date (YTD) returns improved to -14.2percent.
Analysts say the implementation of OPEC+ supply cut deal and the influx of more quarterly earnings (Q1) will drive sentiments this week amid increasing number of countries weighing the need to unlock economic activities as the debate around health and economic wellbeing gets louder.
Investors are expected to take more positions in healthcare stocks due to increased interest in the sector lately.
