Nigeria, April 3 -- Nigerian equities advanced by 0.7 per cent last week, recording their first gain in five weeks due to increased interest in bank stocks.

The market ended the first quarter yielding only 2.7 per cent as investors and portfolio managers still find fixed-income assets reasonably more attractive than stocks.

"The equities market is expected to improve marginally as investors position for the FY-2024 earnings season and possible corporate action declarations," analysts at United Capital said in their outlook note ahead of the week.

However, they hinted at potential bearish sentiments considering the elevated interest rate environment in the fixed-income space.

"For the equities market, investors' confidence is still war...