Monday, December 10,
2018 11:48 AM / Afrinvest Research
Market Last Week (Our Observation)
downswing in the domestic stock market continued last week as the
All-Share Index closed in the red, down by 0.02% W-o -W to settle at
30,866.82 points while YTD loss settled at -19.3%.
across sectors was mixed as only 3 of the 5 indices under our coverage
improved W-o-W. The Banking, Consumer Goods and Oil & Gas indices
gained 0.9%, 0.6% and 2.0% W-o-W respectively; whereas the Industrial
Goods and Insurance indices were down by 2.1% and 3.1% W-o-W
performing stocks in the week were DIAMONDBNK (+56.9%), IKEJAHOTEL
(+11.3%) and AIICO (+11.1%) while CONTINSURE
(-12.5%), PRESTIGE (-10.9%) and AIRSERVICE
(-10.0%) led the laggards.
This Week (Our Expectations)
Afrinvest Weekly Sentiment Indicator strengthened to 1.6 points from 0.6
points the week before.
week, we anticipate that investors will take profit in early trades
although we expect an upturn by the middle of the week. Nevertheless, we
maintain a cautious outlook in the near term as overall investor sentiment
remains weak on the back of political uncertainty.
of stocks on our equity watch-list from track period till date are as
follows; CUSTODIAN (-1.5%), GUARANTY
(-4.4%), OKOMU (-6.5%), GUINNESS
(- 6.5%) and UBA (-10.7%).
Recommendation For The Week 031218
Recommendation For The Week 261118
Recommendation for The Week 191118
Recommendation For The Week 121118
Recommendation for The Week 051118
Recommendation for the Week - 151018
Recommendation for the Week - 081018
8. Afrinvest Stock
Recommendation for the Week - 240918