Nigerian stocks are yet to witness a significant rally from the largely positive half-year corporate results. Equities appreciated by only 0.1% last week, driven primarily by increased demand for banking sector stocks.

Only the banking index advanced among the five sector indices tracked by the exchange. The market is currently awaiting the earnings reports of four of the Big 5 lenders, which could be released at any moment.

Top Stock Selections for the Week

Coronation Insurance tops this week’s selection on the basis of its sound fundamentals. The insurer has a net profit ratio of 19.8% and a price-to-earnings ratio of 7.9x, with a 14-day relative strength index of 44.1.

Wema Bank makes the cut for its strong fundamentals and for trading below its intrinsic value. The lender features a net profit ratio of 30.5%, a price-to-earnings ratio of 1.1x, and a 14-day relative strength index of 45.8.

UACN is selected for its strong fundamentals. The company presents a net profit ratio of 5.5%, a price-to-earnings ratio of 22.8x, and a 14-day relative strength index of 28.8.

May & Baker is included for its sound fundamentals. The pharmaceutical company has a net profit ratio of 11.7%, a price-to-earnings ratio of 11.7x, and a 14-day relative strength index of 26.1.

Sterling Financial Holdings appears on the pick for its strong fundamentals and for trading below its intrinsic value. The lender has a net profit ratio of 16.4, a price-to-earnings ratio of 5.6, and a 14-day relative strength index of 48.6.

Vitafoam features on the list for its strong fundamentals. The company has a net profit ratio of 14.9, a price-to-earnings ratio of 18.7, and a 14-day relative strength index of 52.7.