Monday, May 20, 2019 / 10:17AM / By Afrinvest Research
Market Last Week (Our Observation)
downtrend in the domestic equities market came to a halt this week as the NSE
All Share Index trended upward, advancing 1.0% W-o-W to settle at 28,871.93
points. Similarly, market capitalisation advanced N1.9bn W-o-W to close at
N12.7tn while YTD loss settled at -8.1%.
sectors, the performance was negative as all indices under our coverage trended
southwards W-o-W. The Banking index led decliners, down 4.3% W-o-W. The
Consumer Goods index trailed, shedding 4.1% while sell-offs pulled the
Insurance index lower, down 3.3% W-o-W. Also, the Industrial Goods and Oil
& Gas indices declined 2.8% and 2.3% W-o-W respectively as investor exited
positions in CCNN, DANGCEM, and FORTE.
top performers for the week were THOMASWY (+24.0%), NEIMETH (+22.0%) and
AGLEVENT (+16.7%) while REGALINS (-20.0%), FORTE (-18.9%) and CHAMPION (-18.2%)
Market This Week (Our Expectations)
Afrinvest weekly sentiment indicator strengthened to 3.1 points from 3.0 points
recorded in the previous week.
the coming week, we expect to see increased investors appetite for the MTNN
stock particularly in the early days of the week and bargain hunting in
fundamentally sound stocks for short term gains. We, therefore, maintain a
bullish outlook for the market in the near-term.
of stocks on our equity watch-list from track period till date are as follows;
GUARANTY(-11.2%), ZENITH (-15.0%), DANGCEM (-7.2%), OKOMU (-2.9%) and NESTLE
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