NGX Weekly Wrap: 3rd Straight Loss, But Smart Money Sees 5 Hot Buys

The Nigerian stock market just clocked its third week of losses—banking stocks dragged the hardest—but here’s the twist: analysts say select stocks are still screaming “Buy Me!”

Let’s break it down

The Market in One Glance

ASI: 140,295.49 pts (−0.50% WoW)

Market Cap: ₦88.77trn

YTD Return: +36.31%

August: closed with a modest +0.31% gain

Sector snapshot:

Banking: −1.21%

Industrials: −0.36%

Consumer Goods: −0.89%

Oil & Gas: −0.18%

Insurance: −1.02%

Translation: The market is tired, but not dead.

Where CMOs Are Placing Bets

1️⃣ Banking — Buy the Dip?

Despite red screens, Capital Bancorp, Lead Capital, Apel, Cardinal Stone & Cowry Asset are calling Buy on select Tier-1 names. Translation: The smart money thinks banks are oversold.

2️⃣ Consumer Goods — NB Gets the Cheers

Operators are mostly saying Hold here, but Nigerian Breweries (NB) got a strong Buy push. Investors are betting on post-subsidy drinking habits fueling demand.

3️⃣ Industrials — Cement Wars

WAPCO is CMOs’ darling after Huaxin Cement takeover. Lots of Buy calls.

BUA Cement gets a Buy/Hold split—translation: good stock, but not without risk.

4️⃣ Oil & Gas — Aradel Steals Spotlight

Even though the index fell, CMOs are bullish on Aradel Holdings (ARADEL). If you’re hunting energy growth, this may be the gem.

5️⃣ Insurance & Others — Sit Tight

Insurance continues to underwhelm (down −1.02%), with mostly Hold recommendations. Translation: wait for earnings clarity.

The Bottom Line

The NGX looks shaky, but pockets of alpha remain. Analysts are leaning into banks, WAPCO, NB, and Aradel as the stocks to watch.

Smart investors aren’t running—they’re rotating.

Anonymous

Sponsored Advertisements

NGX Weekly Wrap: 3rd Straight Loss, But Smart Money Sees 5 Hot Buys

Foxnews