January 28, 2019 01.:52 PM / Afrinvest Research
Week (Our Observation)
local bourse enjoyed buying interest last week as investors took advantage
of cheap assets on the exchange. As a result, the All Share Index (ASI)
rose 1.4% to 31,426.63 points while YTD loss contracted to 1bp.
sector indices, performance was mixed W-o-W, though negatively skewed. The
Industrial Goods index led laggards, down 2.0%, trailed by the Oil &
Gas and Consumer Goods indices which fell 1.3% and 0.4% respectively. The
Banking and Insurance indices were up 7.1% and 2.0% respectively.
- The top
performing stocks for the week were FIDELITY (+24.4%), CAVERTON
(+22.6%) and FCMB (+22.2%) while RESORTS
(-23.1%), SOVRENIN (-19.2%) and UBN (-8.9%)
This Week (Our Expectations)
Afrinvest Weekly Sentiment Indicator strengthened to 1.5 points from 0.5
points recorded the previous week.
believe appetite for value stocks will remain upbeat in the near term.
Nonetheless, we expect to see profit taking activities during the week.
We recommend that investors take position in cheap assets with sound
fundamentals in order to take advantage.
performance of stocks on our equity watch-list from track period till date
are as follows; GUARANTY (0.0%), ZENITH (-0.2%),
DANGCEM (+4.3%), OKOMU (+7.6%),
and NIGERIAN BREWERIES (+2.0%).
- NB: Rate on ₦100M and above are negotiable and all rates are valid ONLY for fund
received on/before 28th January 2019
1. Afrinvest Stock
Recommendation For The Week 210119
2. Afrinvest Stock
Recommendation For The Week 140119
3. Afrinvest Stock
Recommendation For The Week 070119
4. Afrinvest Stock
Recommendation For The Week 171218
5. Afrinvest Stock
Recommendation For The Week 101218
6. Afrinvest Stock
Recommendation For The Week 031218
7. Afrinvest Stock
Recommendation For The Week 261118
8. Afrinvest Stock
Recommendation for The Week 191118