Nigerian Equities Gain 0.7% as Analysts Identify Top Value Stocks Including NEM Insurance and Fidelity Bank

NEM Insurance and Fidelity Bank top the list of stock picks as the Nigerian stock market sees a 0.7% weekly gain and a 27.5% year-to-date yield.

By: AXL Media

Published: Mar 16, 2026, 5:10 AM EDT

Source: The information in this article was sourced from Premium Times Nigeria

Market Performance and Near-Term Outlook

Nigerian stocks maintained a positive trajectory last week, advancing by 0.7%. This growth was primarily fueled by increased investor appetite for industrial goods, pushing the benchmark index’s year-to-date yield to a robust 27.5%. As the market enters the final weeks of the first quarter, analysts from Meristem Securities suggest that the direction of the Nigerian Exchange (NGX) will be heavily influenced by the upcoming 2025 audited financial reports of major lenders. Income-seeking investors are particularly focused on dividend declarations, which are expected to provide a support floor for several equity counters in the coming days.

Oil Sector Upbeat Amid Global Tensions

The energy segment of the NGX is expected to remain "upbeat" following a significant rise in global crude oil prices. This trend is largely attributed to ongoing geopolitical tensions, specifically the conflict involving the U.S., Israel, and Iran. Analysts believe these external shocks will continue to drive sentiment in the oil and gas sector, providing a potential hedge for investors as energy prices fluctuate on the international market.

Top Stock Selection for the Week

To assist investors in navigating the current market volatility, financial analysts have identified several equities with sound fundamentals: