September 17, 2018 / 10:57 AM / Afrinvest Research
Market This Week (Our Observation)
bearish performance of the equities market was sustained last week as the
All Share Index (ASI) fell 5.0% W-o-W to 32,327.59 points, YTD loss
worsened to -15.5% while market capitalization declined to N11.8tn.
sectors, performance was also bearish as the Industrial Goods index
declined 7.6% while the Insurance and Consumer Goods indices fell 5.9% and
5.4% W-o-W respectively. Similarly, the Banking and Oil & Gas indices
shed 4.4% and 1.7% W-o-W respectively.
outperforming stocks last week were LAWUNION
(+17.7%) and SKYEBANK
(+15.5%) while CCNN
(-24.2%) and FORTE
(-16.7%) declined the most.
Market This Week (Our Expectation)
Afrinvest weekly sentiment indicator further weakened to 1.3 points from
1.9 points in the prior week due to low volume traded.
the sustained bearish performance of the local bourse, some fundamentally
sound stocks have reached new 1-year lows, creating attractive entry
opportunities. We anticipate bargain hunting in these stocks this week as
investors position for a rebound in the medium term
of stocks on our equity watch-list from track period till date are as
BREWERIES (-10.2%), CUSTODIAN
(-8.3%) and OKOMU
Afrinvest Stock Recommendation for the Week - 100918
Afrinvest Stock Recommendation for the Week -030918
Afrinvest Stock Recommendation for the Week - 270818
Cordros Weekly Stock Recommendation – 130818
Afrinvest Stock Recommendation for the Week – 130818
Cordros Weekly Stock Recommendation – 060818
Afrinvest Stock Recommendation for the Week – 060818
Afrinvest Stock Recommendation for the Week – 300718
9. Cordros Weekly Stock Recommendation – 300718