Nigeria, Aug. 17 -- Last week, Nigerian stocks depreciated by 1.2 per cent, despite increased trading activity, as all the sector indices, led by consumer goods, retreated.

Trade volume stood at 12.2 billion shares, compared to 5.4 billion a year earlier.

"Given the market's strong year-to-date performance, we expect investors to remain selective, with profit-taking in stocks that have recorded significant gains likely to limit the extent of the market's upside," analysts at Meristem Securities had said in their outlook for the week.

"Dividend expectations could provide an additional source of support, particularly for the Tier-1 banks, where dividend yields remain relatively attractive," they added.

Positioning for the half-year earn...