Nigerian stocks
Nigerian stocks reported a modest gain last week, appreciating by 0.3 per cent as the market only ran limited trading sessions on account of the public holidays commemorating Eid el Adha celebrations.
The advance was largely driven by increased demand for oil and gas stocks.
The main equity index has returned 60.9 per cent year to date, with just five months gone in 2026.
“From a technical standpoint, the market’s 10-day RSI moderated further to 71.47pts (vs. 78.93pts in the prior week), indicating that while the market remains in overbought territory, momentum has continued to ease, thereby reducing the intensity of previous overheating concerns and creates room for fresh buying interest to emerge,” said analysts at Meristem Securities in their outlook for the week.
