Nigerian Stocks Foreign Investors Bought in Equities Market
Foreign investors made strategic bets on some Nigerian stocks with strong fundamentals and upside potentials. Zenith bank, Fidelity bank, Stanbic IBTC and others were among the stock that attracted offshore attention last week.
Other attractive listed stocks for the foreigners in the local bourse last week were Guinness Nigeria, and Okomu Oil Plc. Due to relatively cheap valuation, offshore investors have been betting on Nigerian stocks, especially, financial stocks with good potential.
It is no surprise that these stocks posted weekly gain which pushed their respective market valuation higher in the stock market. For foreigners to increase their bets, it is obvious that these stocks have passed acid test of earnings, dividend and good governance.
Demand for these stocks is a buying signal for local investors seeking to join the band wagon – they ride may be worth it after all.
Analysts said the significant activity from offshore investors in ZENITHBANK, FIDELITYBK, OKOMUOIL, STANBIC, and GUINNESS, reflect strong foreign interest in the market. #Nigerian Stocks Foreign Investors Bought in Equities Market FBN Holdings Spikes as Investors Price in Impressive Earnings
