Investment experts at Bancorp Securities Limited, a leading investment and stockbroking consultancy firm in Nigeria, have projected that investors would be selective in their investments on stocks in the nation’s equities market this week in responses to earnings on their shares and divided payments in the last three quarters of this year.
The experts, who gave this forecast in the firm’s ‘Weekly Stock Recommendation 2nd – 6th November 2026’ circulated to our correspondent on Monday, noted that last week’s 2.86 per cent in the local bourse was primarily spurred by Dangote Cement, while continued weakness in Banking and Insurance reflected limited market-wide buying interest during the week.
Specifically, the analysts predicted: “We expect trading on the Nigerian equities market to remain selective this week as investors respond to nine-month earnings, dividend announcements and year-end positioning. The previous week’s 2.86% recovery was largely driven by Dangote Cement, while continued weakness in Banking and Insurance indicates limited market-wide buying interest. With the ASI up 63.42% YTD, profit-taking may persist in stocks with significant gains, while earnings and dividend prospects are likely to guide investor interest.”
Reflecting on the Nigerian equities market and macroeconomic outlook for week ended October 30, the firm’s investment researchers noted that Nigeria’s macroeconomic developments during the week were characterised by the Federal Government’s proposed external borrowing plan and stronger foreign portfolio investment inflows.
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Similarly, they recalled that the Federal Government also sought legislative approval for US$20.52 billion and EUR1.05 billion in external borrowing for 2026–2027, while foreign portfolio investment inflows increased by 17.60% to US$7.09 billion in Q2 2026.
According to them, both developments highlight the importance of external financing to Nigeria’s economy, although debt sustainability and the composition of capital inflows remain important considerations for long-term economic growth.
Making further clarifications on the equities market outlook this week, the Bancorp Securities’ experts projected that with the NGX All-Share Index up 63.42% YTD last week, investors may take profits in stocks that have recorded substantial gains while increasing exposure to companies whose earnings and dividend prospects support current valuations.
They predicted: “The strong performance of Industrial Goods, alongside dividend declarations by some companies particularly in the Oil & Gas, could sustain interest in these sectors, although the sharp appreciation in some stocks raises the possibility of short-term price corrections.
“Hence, we expect portfolio rebalancing, corporate earnings performance and positioning ahead of the 2026 financial year-end to influence market direction, with opportunities for selective buying in stocks that have experienced recent price declines”, the experts added.
