Top Stock Picks for This Week: Nascon, Coronation, Jaiz Bank

Nigerian stocks went up by 2.9 percent last week, thanks to gains in bank and oil and gas shares. All the sector indexes saw improvements during the week.

The main equity index has grown by 60.5 percent so far this year.

Analysts at Meristem Securities said, “Recent broad-based declines have, however, brought several frontline and mid-cap stocks to more attractive entry levels. This could encourage some bargain-hunting during the week.”

PREMIUM TIMES has put together a list of stocks with strong fundamentals. They have used careful methods to help you avoid the risk of picking stocks randomly for investment.

This pick is based on an analytical market watch. It offers guidance on how to enter the market and take smart positions, hoping that selected stocks will see reasonable price increases over time.

This is not a buy, sell or hold recommendation. You should speak with your financial advisor before making any investment decisions.

Nascon

Nascon is at the top of this week’s list because of its strong fundamentals. The net profit ratio (NPR) of the salt producer is 9.3, while the price-to-earnings (PE) ratio is 11.5x. Its 14-day relative strength index (RSI) stands at 6.9.

Coronation Insurance

Coronation is included in the picks due to its attractive fundamentals. The NPR of the insurer is 22.7, and the PE ratio is 5.2x. The 14-day RSI is 55.4.

Jaiz Bank

Jaiz Bank makes the list for its strong fundamentals. The bank’s NPR is 28.5, while the PE ratio is 1.5x. Its 14-day RSI is 43.9.