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I must commend FSDH for this Market Outlook. One of the most striking things in the document is the fact that 15 of the most capitalized stocks are banking stocks. They represent over 20% of the market capitalization.
When you think of it, that is a very high percentage. It shows that the Nigerian Stock Exchange is highly dependent on the banking sector. While it is good that the economy is growing and that interest in the stock market is increasing, there is a danger of being overdependent on the banking sector.
At least for the first part of 2008, I am projecting that the insurance sector will be the new hot sector.
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