Nigeria, July 28 -- Nigerian stocks continued their upward trend last week, advancing by 2.2 per cent on the back of notable gains recorded by industrial goods stocks. In all, the benchmark index has added 30.6 per cent this year.

"We anticipate a sustained positive bias in the local bourse, as investors' strong appetite for equity assets continues to fuel upward repricing across tickers," analysts at Meristem Securities had said in their outlook for the week.

"We see legroom for further appreciation in undervalued equities in the financial services, Industrial goods, and utilities sectors," they added.

Half-year corporate results have begun to roll in, with a couple of fairly strong financials released during the week. More are antici...