Nigerian Stock Market Analysts Target Banking and Industrial Stocks for 2018 Growth

Analysts identified specific stocks to potentially extend 2017 gains, noting the All Share Index rose 42 percent that year, ranking third globally. These stocks included Dangote Sugar, Dangote Flour, International Breweries, Fidelity, and Fidson, each achieving significant returns.

For 2018, Vetiva Capital analysts highlighted Dangote Cement Plc, Zenith Bank Plc, United Bank for Africa Plc, Diamond Bank Plc, Guaranty Trust Bank Plc, UAC of Nigeria Plc, and Flour Mills of Nigeria Plc as key drivers of market performance.

Vetiva Capital’s Olalekan Olabode-led team selected these stocks for their potential to deliver strong risk-adjusted returns over the next year, emphasizing companies with robust fundamentals and limited downside risk.

Analysts attributed the inclusion of banking stocks in their picks to Nigeria’s improving macroeconomic conditions and favorable global commodity prices, which they believe will further enhance bank asset quality this year.