Nigeria, Nov. 17 -- Nigerian stocks shed 1.7 per cent last week on the back of profit-taking activities in a number of equities.

Sell pressures on industrial goods stocks triggered the decline.

However, the main equity index has yielded 42.8 per cent year to date, putting it on track to deliver solid returns by year end.

"In our view, bargain-hunting is likely to shape market activity, particularly in fundamentally strong counters that now present more attractive entry points," analysts at Meristem Securities had said in their outlook for the week.

"We highlight that profit taking could persist, especially in stocks that have recently tested or exceeded year highs," they added.

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